Ten transactions are shown on the next page as they were entered into the accounting system. For each, explain the event that caused the entry to bemade.

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BALANCE SHEET ACCOUNTS INCOME STATEMENT ACCOUNTS Event Cash | + Other Assets-Liabilities | + Equity-, Revenues |-Expenses Accounts Receivable Sales Revenue Inventory Cost of Goods Sold 50,000 50,000 b. -8,000 8,000 2,000 -2,000 35,000 d. Inventory Accounts Payable 35,000 e. inventory 5,000 Accounts Payable Doubtful Accounts 5,000 -800 Allowance for Doubtful Accounts Accounts Receivable -800 -400 Allowance for Doubtful Accounts 980 Accounts Receivable Sales Discounts Allowance for Retums Sales Returns Warranty Expense Warranty -1,000 300 -250 250 Totals 2,980 67,900 30,250 49.680 9,050