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LOS EMP PROBLEMSSET A LOPPIA. Transaction Analysis The accounting equation of L. Lee & Company as of the ben amounting period is given below, followed by seven transactions whose effects on quation are shown. Describe each transaction that occurred. Of the transactions alle rece mon Stock had a balance The following transaction 1 Paid rent for Januar 2 Received 58 800 pa 3 Paid 5750 on acco 4 Received 2.50 5 Borrowed 55.00% 6 Billed the city S1.900, 7 Paid the salary Received inva 9 Paid 56.XX 10 Purchased a 11 Paid SISO Earmings, transaction (e) had no effect on net income for the period. Notes Common Stock Accounts = Payable + Payable + $800 + $2,500 + $2,000 Accounts Cash + Receivable + Supplies Balance $4,100+ $9,000 + $700 la) +8.000 -8,000 b -400 +400 +7,000 -750 fo) id) -750 le) -4.900 -300 (9) +2.200 Required Set up an and stock Payable (Note: 1 b. Showth the col. +300 " +2,200 Transactie WISATA LO ENT transactions PROBLEMS-SET A LOPPAIA. Traction Analysis The accounting equation of L. Lee & Company as of the aming panied is given below, followed by seven transactions whose effects are shown. Describe cach transaction that occurred. Of the Emines transaction(e) had no effect on net income for the period. Accounts Common Stock Notes Payable + Payable + + $2,500 The w Parol 2 Recewed 3 Paid 5750 4 Received 2S 5 Borrowed 6 Bulled the S1800) 1 Paid the 8 Received 9 Paid S6 10. Purchas 11 Pads $800 + $2,000 Cash Balance $4100 (a) +8,000 -400 Accounts + Receivable + Supplies $9,000 + $700 -8,000 +400 +7,000 (b) -750 (c) (d) -750 (e) -4,900 -300 Require a Seu an P: +300 200