Huang Trucking Company was organized on January 1, 2014. At the end of the first quarter (three months) of operations, the owner prepared a summary of its activities as shown in the first row of the following tabulation:

Required1. For each of the six transactions given in this tabulation, enter what you consider the correct amounts. Enter a zero when appropriate. The first transaction is illustrated.2. For each transaction, explain the basis for your dollarresponses.

Computation of Cash Summary of TransactioRs Income a. Services performed for customers, $66,000, of which $11,000 remained uncollected at the end of the quarter. +$66,000 $55,000 b. Cash borrowed from the local bank, $56,000 (one-year note) C. Small service truck purchased at the end of the quarter to be used in the d. Wages earned by employees, S25,000, of which one-half remained e. Service supplies purchased for use in the business, S3,800 cash, of f Other operating expenses, $38,000, of which $6,500 remained unpaid Based only on these transactions, compute the following for the quarter: business for two years starting the next quarter: cost, S12,500 cash. unpaid at the end of the quarter which $900 were unused (still on hand) at the end of the quarter at the end of the quarter. Income (or loss) Cash inflow (or outflow)