On July 1, K. Marion opened Marion’s Business Services. Marion’s accountant listed the following chart of accounts: Cash K. Marion, Drawing Supplies Business Services Revenue Prepaid Insurance Wages Expense Equipment Rent Expense Furniture and Fixtures Utilities Expense Accounts Payable Miscellaneous Expense K. Marion, Capital The following transactions were completed during July: Marion deposited $31,000 in a bank account in the name of the business. Bought tables and chairs (Furniture and Fixtures) for cash, $850, Ck. No. 1200. Paid the rent for the current month, $1,800, Ck. No. 1201. Bought computers and copy machines (Equipment) from Ferber Equipment, $16,000, paying $3,650 in cash and placing the balance on account, Ck. No. 1202. Bought supplies on account from Wiggins’s Distributors, $750. Sold services for cash, $1,957. Bought insurance for one year, $1,500, Ck. No. 1203. (Assume that cheque was issued on 1st of July.) Paid on account to Ferber Equipment, $1,200, Ck. No. 1204. Received and paid the electric bill, $305, Ck. No. 1205. Paid on account to Wiggins’s Distributors, $435, Ck. No. 1206. Sold services to customers for cash for the second half of the month, $780. Received and paid the bill for the business license, $100, Ck. No. 1207 (Miscellaneous Expense). Paid wages to an employee, $1,400, Ck. No. 1208. Marion withdrew cash for personal use, $1,100, Ck. No. 1209. Required: Correctly place the plus and minus signs for each T account and label the debit and credit sides of the accounts. Record the transactions in the T accounts. Record the amounts in the order given (letters ‘a’ through ‘n’). Foot the T accounts and show the balances.