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a. credit g. debit b. credit h. debit c. debit i. debit d. credit j. credit e. debit k. debit f. credit l. credit28a. Debit (negative) balance of $1,500 ($10,500 – $4,000 – $8,000). Such a negative balance means that the liabilities of Seth’s business exceed the assets. b. Yes. The balance sheet prepared at December 31 will balance, with Seth Fite, Capital, being reported in the owner’s equity section as a negative $1,500.29a. The increase of $28,750 in the cash account does not indicate earnings of that amount. Earnings will represent the net change in all assets and liabilities from operating transactions. b. $7,550 ($36,300 – $28,750)210a. $40,550 ($7,850 + $41,850 – $9,150) b. $63,000 ($61,000 + $17,500 – $15,500) c. $20,800 ($40,500 – $57,700 + $38,000)2112005Aug. 1 Rent Expense 1,500 Cash 1,500 2 Advertising Expense 700 Cash 700 4 Supplies 1,050 Cash 1,050 6 Office Equipment 7,500 Accounts Payable 7,500 8 Cash 3,600 Accounts Receivable 3,600 12 Accounts Payable 1,150 Cash 1,150 20 Gayle McCall, Dra