Kaylee James, a connoisseur of fine chocolate, opened Kaylee’s Sweets in Collegetown on February 1, 2014. The shop specializes in a selection of gourmet chocolate candies and a line of gourmet ice cream. You have been hired as manager. Your duties include maintaining the store’s financial records. The following transactions occurred in February 2014, the first month of operations.

a. Received four shareholders’ contributions totaling $28,900 cash to form the corporation; issued 300 shares of $.10 par value common stock.
b. Paid three months' rent for the store at $1,690 per month (recorded as prepaid expenses).
c. Purchased and received candy for $5,600 on account, due in 60 days.
d. Purchased supplies for $1,430 cash.
e. Negotiated and signed a two-year $19,000 loan at the bank.
f.
Used the money from (e) to purchase a computer for $3,000 (for recordkeeping and inventory tracking); used the balance for furniture and fixtures for the store.

g. Placed a grand opening advertisement in the local paper for $470 cash; the ad ran in the current month.
h.
Made sales on Valentine's Day totaling $3,600; $2,690 was in cash and the rest on accounts receivable. The cost of the candy sold was $1,800.

i. Made a $560 payment on accounts payable.
j. Incurred and paid employee wages of $1,400.
k. Collected accounts receivable of $155 from customers.
l. Made a repair to one of the display cases for $120 cash.
m.
Made cash sales of $2,400 during the rest of the month. The cost of the candy sold was $1,210.

Required:
1 & 2.
Record in the T-accounts the effects of each transaction for Kaylee’s Sweets in February, referencing each transaction in the accounts with the transaction letter. Show the ending balances in the T-accounts.