CASE 1: John Davidson started her practice as a registered interior designer on February 3 of the current year. During the first month of operations, the business completed the following transactions: Feb 3 Davidson contributed $83000 cash and office furniture with a fair market value of $ 5500 from her personal bank account to a business account titled John Davidson, Dietician Feb 7 Purchased supplies on account: $720 Feb 11 Performed services for a hospital $2000; received $600 immediately in cash and submitted a bill for the rest of the amount, $1400 Feb 15 Paid secretary's salary, 5600 Feb 20 Received partial collection from client on account $600 (issued on Feb 11) Feb 22 Davidson purchased a computer for himself at a cost of $2,000, paid cash from personal funds. Feb23 The Business received $ 1500 for interior services to be performed next month Feb 25 Borrowed $15000 from the bank for business use 1) Refer to case 1 After all of the transactions, How much is the Debit or Credit balance in the trial balance? (write your result in to the answer box below) Answer: 2) Refer to case 1 After all of the transactions, how much is the Total Assets? (write your result in to the answer box below) Answer= 3) Refer to case 1After all of the transactions, How much is the A/P balance in the trial balance? (write your result in to the answer box below) Answer: 4) Refer to case 1After all of the transactions, How much is the cash balance at the end of the period? (write your result in to the answer box below) Answer: 5) Refer to case 1After all of the transactions, How much is the Revenue balance? (write your result in to the answer box below) Answer: 0 6)Refer to case 1After all of the transactions, How much is the Net Income? (write your result in to the answer box below) Answer: 7)Refer to case 1After all of the transactions, How much is the Total Liabilities? (write your result in to the answer box below) Answer: 0 8) Refer to case 1 Which of the following is journal entry for Feb 20? O A. Cash 600 AIR 600 OB. none of them O C. AIR 600 Cash 600 OD. Cash 600 Revenue 600 O E. Revenue 600 Cash 600 9) Refer to case 1 Which of the following is journal entry for Feb 22? O A. Cash 2000 Revenue 2000 O B. none of them O C. Eqipment 2000 Cash 2000 OD. Expenses 2000 Cash 2000 O E. No effect