Solve for 11

Record transaction 11 in the table below. 2 PAS borrows $30,000 from the bank. 1 On December 1, J. Pell contributes $20,000 to the business and receives stock. 3 PAS pays $2,000 for sound equipment for the gallery. 4 PAS pays $12,000 for a year's rent in advance. 5 PAS buys $16,000 of prints and paintings on credit, to sell to customers. During December these additional transactions occur. 6 PAS receives $1,500 for art lessons provided in December. 7 Customer takes $400 of lessons and will pay bill next month. 8 Business pays $120 for December's phone bill. 9 Receive December's utility bill for $300. PAS will pay the bill in January. 10 Customer pays $1,200 for 12 monthly lessons, beginning this month. 11, part 1 Sell three paintings that cost $500 each. Customer will pay $2,700 for the paintings next month. (Hint: This is actually 2 transactions. Record just the $2,700 sales proceeds in this part. The next question will ask you to record the $ Assets Cash Account Liabilities Receivable Inventory Prepaid Rem Equip Equity Account 20000 Payable Bank Loan 0 Unearned 0 Revenue Contributed Capital Retained Earnings 2 30000 0 0 0 20000 0 3 -2000 0 0 30000 0 0 0 0 41 2000 -12000 0 0 0 0 12000 0 0 5 0 0 0 0 16000 0 0 0 1500 16000 0 0 0 0 0 0 0 0 400 0 0 0 0 0 1500 120 0 0 0 0 0 0 400 0 0 0 0 0 0 0 0 120 10 0 1200 300 0 0 0 0 0 0 0 300 71 0 0 0 0 1200 0 v 0 0 v 0 0 v 0 0 V 0 0 0