The following events apply to Bowman's Cleaning Service for Year 1.1). Issued stock for $44,000 cash2). On May 1, paid $27,000 for one year's rent in advance3). Purchased on account $4,500 of supplies to be used in the business4). Performed services of $68,400 and received cash5). At December 31, adjusted the records for the expired rent6). At December 31, an inventory of supplies showed that $660 of supplies were still unusedRequired: Show how each of these transactions affects the company's accounts. Calculate the year-end total for each account.
What will be an ideal response?
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