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Inflatable Fun For All is your own business. You own two inflatable bouncy castles. Kids love them! How will IFFA record the May 1 transaction? (1 mark) a. No entry is needed. b. decrease Cash and increase Bank Loan Payable, \$12 c. decrease Cash and increase Accounts Payable, $12 d. increase both Cash and Owner's Capital, $12 Enter the letter that corresponds to your choice. (A B C D) A. How will IFFA record the May 2 transaction? (1 mark) a. increase both Cash and Accounts Payable, $4,000 b. increase both Cash and Bank Loan Payable, $4,000 c. increase both Cash and Owner's Capital, $4,000 d. increase both Cash and Revenue, $4,000 e. increase both Cash and Retained Earnings, $4,000 How will IFFA record the May 3 transaction? ( 1 mark) a. increase both Cash and Accounts Payable, $3,000 b. increase both Cash and Bank Loan Payable, $3,000 c. increase both Cash and Owner's Capital, $3,000 d. increase both Cash and Revenue, $3,000 e. increase both Cash and Retained Earnings, $3,000 Enter the letter that corresponds to your choice. (ABCDE) A How will IFFA record the May 4 transaction? (1 mark) a. decrease Cash $2,400 and increase Rent Expense $2,400 b. decrease Cash $400 and increase Rent Expense $400 c. decrease Cash $2,400 and increase Prepaid Rent $2,400 d. decrease Cash $2,400, increase Rent Expense $2,400 a. increase both Equipment and Accounts Payable, $565 b. increase Supplies Expense and decrease Cash. $500 c. increase Supplies and decrease Cash, $565 d. increase both Supplies Expense and Accounts Payable, $565 e. increase both Supplies and Accounts Payable, $565 Enter the letter that corresponds to your choice. (A B CD E) A. How will IFFA record the May 7 transaction? (1 mark) a. increase Supplies and decrease Cash, $3,000 b. increase both Supplies Expense and Accounts Payable, $3,000 c. increase Supplies Expense and decrease Accounts Payable, $3,000 d. increase both Supplies and Accounts Payable, $3,000 e. increase both Equipment and Accounts Payable, $3,000 f. increase Equipment and decrease Cash, $3,000 a. increase Prepaid Insurance and decrease Cash, $2,592 b. increase both Insurance Expense and Accounts Payable, $2,592 c. increase both Prepaid Insurance and Accounts Payable, $2,592 d. increase Insurance Expense and decrease Cash, $2,592 e. increase Prepaid Insurance and decrease Cash, $2,400 Enter the letter that corresponds to your choice. (A BCD E) A How will IFFA record the May 10 transaction? (1 mark) a. increase Prepaid Advertising and decrease Cash, $226 b. increase both Prepaid Advertising and Accounts Payable, $226 c. increase Advertising Expense and decrease Cash, $226 d. increase both Prepaid Advertising and Accounts Payable, $200 e. increase Prepaid Advertising and decrease Cash, $200 How will IFFA record the May 11 transaction? ( 4 marks) a. increase Advertising Expense and decrease Prepaid Advertising by $226 each, and also decrease Cash and increase Wages Expense by $60 each b. increase Advertising Expense and decrease Prepaid Advertising by $113 each, and also increase Cash and decrease Wages Expense by $60 each c. increase Advertising Expense and decrease Prepaid Advertising by $113 each, and also decrease Cash and increase Wages Expense by $60 each d. increase Advertising Expense and decrease Prepaid Advertising by $226 each, and also increase Cash and decrease Wages Expense by $60 each e. decrease Advertising Expense and increase Prepaid Advertising by $193 each, and also increase Cash and decrease Wages Expense by $60 each f. increase Advertising Expense and decrease Prepaid Advertising by $226 each, and also decrease Cash and increase Wages Expense by $60 each Enter the letter that corresponds to your choice. (ABCDEF) A) How will IFFA record the May 12 transaction? ( 1 mark) a. increase both Cash and Service Revenue, $100 b. increase both Cash and Deferred Revenue, $100 c. increase both Accounts Receivable and Service Revenue, $100 d. increase both Accounts Receivable and Deferred Revenue, $100