Question: The following is a list of summarized transactions that occured for ABC company in 2019 (dollars are in millions). Purchased buildings costing $396 and equipment costing $198 for cash. Borrowed $119 from a bank, signing a short-term note. Provided $57,771 in service to customers during the year, with $29,358 on account and the rest received in cash. Paid $127,174 cash on accounts payable. Purchased $33,283 of inventory on account.The following is a list of a few transactions which occurred for a Consulting firm in 2020. Received $9,510 cash for consulting services rendered. Purchased $650 of office equipment, paying 30 percent in cash and owing the rest on a short-term note. Received $900 from clients for consulting services to be performed in the next year. Bought $480 of supplies on account.