The following transactions occurred during a recent year:
a. Paid wages of $ 1,000 for the current period (example).
b. Borrowed $ 5,000 cash from local bank using a short- term note.
c. Purchased $ 2,000 of equipment on credit.
d. Earned $ 400 of sales revenue; collected cash.
e. Received $ 800 of utilities services, on credit.
f. Earned $ 1,700 of service revenue, on credit.
g. Paid $ 300 cash on account to a supplier.
h. Incurred $ 70 of travel expenses; paid cash.
i. Earned $ 400 of service revenue; collected half in cash, with balance on credit.
j. Collected $ 100 cash from customers on account. k. Incurred $ 300 of advertising costs; paid half in cash, with balance on credit.
Required:
For each of the transactions, complete the table below, indicating the account, amount, and direction of the effect (+ for increase and €“ for decrease) of each transaction under the accrual basis. Write NE if there is no effect. Include revenues and expenses as subcategories of stockholders€™ equity, as shown for the first transaction, which is provided as an example. Also, determine the company€™s preliminary net income.

Transaction Assets Liabilities Stockholders' Equity (a) (exampie) Cash -1.000 NE Wages Expense (+E)-1,000