a Cash.......................................................... DR $49000
To Sales ................................................................................49000
(Being Sales made in cash)
b Supplies ................................................ DR $3000
To Accounts Payable............................................................. $3000
(Being Supplies Purchased)
c Cash...................................................... DR $58000
To Long Term Notes ..........................$58000
(Being Long Term Notes Borrowed)
d Equipment................................... DR $18600
To Cash..........................................................$18600
(Being Equipment Purchased in cash)
e Selling Expense ..........................DR $27000
To Cash ............................................... $18000
To Accounts Payable .............................. $9000
(Being Selling Expenses Incurred)
f Rent Expense..............................$4700
Prepaid Rent ..............................$4700
To Cash ...................................................$9400
