Write a paper Identifying transactions from source documents.

The Four Steps in the Accounting ProcessYou are operating your accounting firm. Your first client had the following transactions in April 20×7:Borrowed $10,000 from the bank.Purchased $2,250 of computer equipment for cash.Paid $750 cash for this month’s rent.Purchased $1,500 of office supplies on credit. It is expected that these supplies will last for 3 months.Billed $500 to customers for services rendered during April.Paid cash for the $1,500 balance owed to the vendor from Transaction 4.Collected $450 cash of the amount billed to the customer in Transaction 5Sold one-half of the equipment purchased in Transaction 2 for $1,125 in cash, with no gain or loss recognized on the sale.Paid $1,000 of the principal from the loan in transaction 1, along with $50 in interest.Required:Use the four steps in the accounting cycle to analyze business transactions, a) Identifying transactions from source documents, b) Analyzing transactions using the accounting equation, c) Recording the journal entry and d) Posting the entry to the ledger to complete the following:Prepare journal entries for each of the above transactions.Post the journal entries to T–accounts and total the accounts.From the T–accounts, prepare an unadjusted trial balance. List expenses in alphabetical order.Use the following chart of accounts names and template:Cash, Capital Stock, Equipment, Accounts Payable, Rent, Supplies, Accounts Receivable, Revenue.Product must include a title page and reference page. ReferencesAssociation of Fraud Examiners. (2016a). The fraud triangle. Retrieved from http://www.acfe.com/Association of Fraud Examiners. (2016b). The fraudster’s perspective. Retrieved from http://www.acfe.com/vid.aspxAnnand, D. (2016). Introduction to financial accounting. Retrieved from https://business.athabascau.ca/assets/ License: CC BY-nc-sa 3.0.Costco. (2015). Annual report 2015. Retrieved from http://phx.corporate-ir.net/phoenix.zhtml.The Crime Network. (2016). Enron scandal. Retrieved from https://youtu.be/vY6zEonpEiQ.Edspira. (2014). Stockholders’ equity (Financial Accounting). Retrieved from https://youtu.be/Dmf8hVNH8ccHermanson, R. H., Edwards, J. D., & Maher, M. W. (2011). Accounting principles: A business perspective. Retrieved from http://www.saylor.org/site/wp-content/uploads/ License under CC BY NC SA.Hermanson, R. H., Edwards, J. D., & Maher, M. W. (2010). Accounting principles: A business perspective first global text edition, volume 1. Retrieved from http://globaltext.terry.uga.edu/books/ License under CC BY.IMA. (2016). Ethics center. Retrieved from https://www.imanet.org/tools-and-resources/IFRS. (2016). Who we are and what we do. Retrieved from http://www.ifrs.org/About-us/Lister, J. (n.d.). Ethical issues facing the accounting profession. Retrieved from http://smallbusiness.chron.com/Securities and Exchange Commission. (n.d.). Spotlight on Enron. Retrieved from https://www.sec.gov/spotlight/The Sarbanes-Oxley Act 2002. (2002). Retrieved from http://www.soxlaw.com/Time Magazine. (2002). Retrieved from http://content.time.com/time/specials/ThisWayToCPA. (2012). Evolution of a profession: 8,000 years of accounting. Retrieved from https://youtu.be/i9l4vm-ziJo