Sue Jantz started a business in August 20-- called Jantz Plumbing Service. Jantz hired a part-time college student as an administrative assistant.The following transactions occurred during August:(a)Invested cash in the business, $30,000.(b)Purchased a used van for cash, $8,000.(c)Purchased plumbing equipment on account, $4,000.(d)Received cash for services rendered, $3,000.(e)Paid cash on account owed from transaction (c), $1,000.(f)Paid rent for the month, $700.(g)Paid phone bill, $100.(h)Earned revenue on account, $4,000.(i)Purchased office supplies for cash, $300.(j)Paid wages to student, $500.(k)Purchased a one-year insurance policy, $800.(l)Received cash from services performed in transaction (h), $3,000.(m)Paid cash for advertising expense, $2,000.(n)Purchased additional plumbing equipment for $2,000, paying $500 cash and spreading the remaining payments over the next six months.(o)Earned revenue from services for the remainder of the month of $2,800: $1,100 in cash and $1,700 on account.(p)Withdrew cash at the end of the month, $3,000. Required:1.Enter the transactions in T accounts, identifying each transaction with its corresponding letter.2.Foot and balance the accounts where necessary.