M$3-7($Algo$)$ Determining the Financlal Statement Effects of Operating ActIvitles Involving Expenses LO$3-4$

The following transactions are July activities of Bennett's Bowling. Incorporated, which operates several bowling centers, offering customers lanes for games, snack bar service, and merchandise for sale from the pro shop.

E$.$ Bennett's purchased $$680$ in food supplies for the snack bar: paid $$610$ in cash and owed the rest on account with the supplier.

f$.$ Bennett's paid $$2,200$ on the electricity bill for June $($recorded as an expense in June$).$

$9.$ Bennett's paid $$3\mathrm{.}000$ to employees for work in July.

h$.$ Bennett's purchased $$2,400$ in insurance for coverage from August $1$ to November $1.$

i$.$ Bennett's paid $$2,100$ to plumbers for repairing a broken pipe in the restrooms.

j$.$ Bennett's received the July electricity bill for $$4,200$ to be paid in August.

For each of the above transactions, complete the tabulation, indicating the amount and effect of each transaction. $($Remember that Assets $=$ Liabilities $+$ Stockholders' Equity: Revenues $-$ Expenses $=$ Net Income; and Net Income affects Stockholders' Equity through Retained Earnings.$)$ The first transaction is provided as an example.

Note: Reductlons in eccount balonces and loss amounts should be Indleated with e minus sign.