ACCT 2331-ACCT 2331 University of Houston-Chap 2 Problem Shells.

ACCT 2331-ACCT 2331 University of Houston-Chap 2 Problem ShellsSuppose a local company has the following balance sheet accounts:The following transactions occur for Badger Biking Company during the month of June: a . Provide services to customers on account for $50,000. b . Receive cash of $42,000 from customers in (a) above. c. Purchase bike equipment by signing a note with the bank for $35,000. d . Pay utilities of $5,000 for the current month.Fill in the blanks below with the word “debit” or “credit.” a . The balance of an asset account increases with a and decreases with a . b . The balance of a liability account increases with a and decreases with a . c. The balance of a stockholders' equity account increases with a and decreases with aUsing the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have debit balances and all liability, stockholders' equity, and revenue accounts have credit balances. List the accounts in the following order: assets, liabilities, stockholders' equity, dividends, revenues, and expensesTerapin Company engages in the following external transactions for November. 1 . Purchase equipment in exchange for cash of $23,400. 2 Provide services to customers and receive cash of . $6,800. 3 . Pay the current month's rent of $1,300. 4 . Purchase office supplies on account for $1,000. 5 . Pay employee salaries of $2,100 for the current month.