Record transactions and adjustments Prepare an answer sheet with the heading shown after the following list of transactions. Record the effect, if the transaction entry or adjusting entry on the appropriate balance sheet on the income statement by entering the account name and amount and whether it is an addition ( + ) or subtraction ( - ). Column headings expanded balance sheet equation; items that affect net income should not be as affecting stockholders' equality. The first transaction is provided as an ( as an alternative to using the columns, you may write the journal each transaction or adjustment.) During the month, supplies Expense was debited $2,600 for supplies The cost of supplies used during the month $1,900, Record the to properly reflect the amount of supplies used and supplies still on hand end of the month. During the month, the board of directors declared a cash dividend of payable next month. Employees were paid $10,500 in wages for their work during the first three weeks of the month. Employee wages of $3,600 for the last week of the month have not been recorded. Revenues from services performed during the month totaled $22.200.0 amount, $9,300 was received in cash and the balance is expected to be within 30 days. A contract was signed with a newspaper for a $1,200 advertisement; the during this month but will not be paid for until next month