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The items making up the balance sheet of Rankin Truck Rental at December 31 are

The items making up the balance sheet of Rankin Truck Rental at December 31 are listed below in tabular from Assets: Cass=$9,5000 Accounts Receivable=$13,900 Trucks=$68,000 Office Equipment=$3,800 Notes Payable=$ 20,000 Accounts Payable=$10,200 Capital Stock=$65,000 During a short period after December 31, Rankin Truck Rental had the following transactions: 1.Bought office equipment at a cost of $2,700 Paid cash. 2.Collected $4,000 of accounts receivable. 3.Paid $3,200 of accounts payable. 4.Borrowed $10,000 from a bank. Signed a note payable for that amount. 5.Purchased two trucks for $15,000 cash and signed a note payable for the balance. 6.Sold additional stock to inverstors for $75,000. Instructions: a. List the December 31 balances of assets, liabilities, and owners, equity in tabular from as shown above. b. Record the effects of each of the six transactions in the preceding tabular arrangement. Show the totals for all columns aft

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