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E3-15 Analyzing the Effects of Transactions in T-Accounts L03-4 Lisa Frees and Amela Elinger have been operating a catering business for several years. In March, the partners plan to expand by opening a retail sales shop. They have decided to form the business a corporation caled Traveling Gourmet, Inc. The following transactions occurred in March a. Received $80,000 cash from each of the two shareholders to form the corporation, in addition to $2,800 in accounts receivable, 56,900 in equipment, a van (pment) appraised at a far value of $14,800, b. Purchased a vacant store for sale in a good location for $440,000, making 588.000 cash down payment and signing a 10-year mortgage from a local bank for the rest d. Purchased and used food and paper supplies conting $12.450 in March, paid cash. e Catered four parties in March for 5.000 61,760 was billed, and the rest was received in a t Made and sold food at the retail store for $12,300 cath. Received a $500 telephone bill for March to be paid in April K Padangos for the van in March Pod Son was to employees who worked in March Pada 30 dividend from the corporation to each owner k Purchased $68,000 of equipment refrigerated display Cases, cabinets, tables, and chairs) and renovated and decorated the new store for 24.000 (added to the cost of the building paid cash Required 2. Record in the account the acts of each transaction for Traveling Gourmet,ino, in March Computeanding blocs Cash Accounts Receivable Beg. Bal. (a) Beg. Bal. (a) End. Bal. 0 0 End. Bal. 0 Supplies Equipment Beg. Bal. Beg. Bal. (a) 21,500 End. Bal. 21,500 End. Bal. 0 Building Accounts Payable Beg. Bal. Beg Bal 0 End. Bal. 0 End. Bal Note Payable Mortgage Payable Beg. Bal. Beg. Bal. 0 End. Bal 0 End. Bal Common Stock Beg. Bal. Beg. Bal. 0 1,320 (a) Additional Paid-in Capital 0 110,980 (a) End. Bal. 1,320 End. Bal. 110,980 Retained Earnings Food Sales Revenue Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal 0 Catering Sales Revenue Supplies Expense Beg. Bal Beg Bal. End. Bal. 0 End. Ral Utilities Expense Wages Expense Beg. Bal. Beg Bal. End. Bal End. Bal. Fuel Expense Beg. Bal. End. Bal