For each of the events listed below, indicate whether the event will give rise to a transactional entry, an adjusting entry, or no entry in the accounting system. Assume the accounting system is designed to collect information on an accrual basis.

a. Depreciation of equipment.

b. Payment of an amount owing to a supplier.

c. Increase in the market value of land while it continues to be owned.

d. Recognition of revenue for work done in the current period but paid for in the previous period.

e. A competitor opens for business in the same neighbourhood.

f. Sale of merchandise to a customer on credit.

g. Earning of interest on an investment. The interest won’t be paid until next year.

h. A customer pays in advance for work to be done next year.

i. Sale of land to a buyer in exchange for a promise to pay $1,000,000 in cash in two years.

j. Sale of company shares to new investors.

k. A hockey team signs a player to a long-term contract. The team will pay the player monthly.