Ten transactions are shown on the next page as they were entered into the accounting system. For each, explain the event that caused the entry to bemade.

BALANCE SHEET ACCOUNTS INCOME STATEMENT ACCOUNTS Event Cash | + Other Assets-Liabilities | + Equity-, Revenues |-Expenses Accounts Receivable Sales Revenue Inventory Cost of Goods Sold 50,000 50,000 b. -8,000 8,000 2,000 -2,000 35,000 d. Inventory Accounts Payable 35,000 e. inventory 5,000 Accounts Payable Doubtful Accounts 5,000 -800 Allowance for Doubtful Accounts Accounts Receivable -800 -400 Allowance for Doubtful Accounts 980 Accounts Receivable Sales Discounts Allowance for Retums Sales Returns Warranty Expense Warranty -1,000 300 -250 250 Totals 2,980 67,900 30,250 49.680 9,050