Record the following selected transactions for january in a two‐column journal. (a) earned $7,000 fees; customer will pay later. (b) purchased equipment for $45,000, paying $20,000 in cash and the remainder on credit (c) paid $3,000 for rent for january. (d) purchased $2,500 of supplies on account. (e) a. allen $1,000 investment in the company. (f) received $7,000 in cash for fees earned previously. (g) paid $1,200 to creditors on account. (h) paid wages of $6,250. (i) received $7,150 from customers on account. (j) a. allen withdrawal of $1,750. for part (e), which two accounts are affected? a)cash and fees earned b)cash and prepaid insurance c) cash and allen, capital d) cash and accounts receivable

Transactions that affect earnings do not necessarily affect cash. identify the effect, if any, that each of the following transactions would have upon cash and net income. the first transaction has been completed as an example. (if an amount reduces the account balance then enter with negative sign preceding the number e. g. -15,000 or parentheses e. g. (15, cash net income (a) purchased $120 of supplies for cash. –$120 $0 (b) recorded an adjustment to record use of $35 of the above supplies. (c) made sales of $1,370, all on account. (d) received $700 from customers in payment of their accounts. (e) purchased equipment for cash, $2,450. (f) recorded depreciation of building for period used, $740. click if you would like to show work for this question: open show work