For sub-question 2, Please record transaction using T-account

For sub-question 3, follow the format of exhibit 8

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Problem 16 Paul Olivia opened a pizza business under the name of Olivia's Pizza Parlor, and during the first week completed the following transactions: a. Invested cash of $2,000 and the following assets at their fair market values: furniture, $2,000; equipment, $3,000; and building, $8,000. b. Purchased food and beverages on account, costing $500 and $100, respectively, thom Edgar's Food Supply. C. Purchased a typewriter with cash, $200. d. Paid for newspaper advertising, $30. e. Paid utility bills, $50. f. Paid wages for the week, $250. g. Paid for cooking supplies used during the week, $10. h. Paid $100 on account to Edgar's Food Supply. i. Received $900 from customers for pizza and beverages sold. Pizza sales amounted to $750, the remainder was beverage sales. Required: 1. Set up the following T-accounts: Cash; Furniture; Equipment; Building; Accounts Pay- able (Edgar's Food Supply); Paul Olivia, Capital; Food Sales; Beverage Sales; Adver- tising Expense; Utilities Expense; Wages Expense; Cooking Supplies Expense; Food Expense; Beverage Expense. 2. Record the transactions in the accounts with each amount identified by its transaction letter 3. Prepare a trial balance. Exhibit 8 Trial Balance of Carson Catering Carson Catering Trial Balance Credits $ Debits 1,175 700 300 15,000 $ -0 12,000 5,000 Cash Accounts Receivable Operating Supplies Van Accounts Payable Notes PayableBMAC Don Carson, Capital Don Carson, Drawing Catering Revenue Wages Expense Advertising Expense Food Expense Gas Expense Totals 1,800 200 400 500 500 25 $ 18,800 $ 18,800