Assets LiabilitiesCash 1440 Owner's equityInventory 1730 Accounts payableFixed Assets 6200 Note PayableAccumulated depreciation -2800Accounts Receivable 2160Allowance for doubtful accounts -70Total 8660 Total

Liabilities49903070

600

8660

Item DebitPurchased inventory on account Inventory 1300Paid employees Expenses (Salaries) 730Sold goods on cash Cash 1940Sold Goods on credit Account receivable 1810Overhead expenses Expenses 900Collection of Account Receivable Cash 1510Paid Accounts payable Accounts payable 1720Received cash for revenue for next period Cash 650Increase current note payable Cash 200Inventory change Expenses(Cost of Goods S 1320Depreciation Expenses 300

CreditAccount payable 1300Cash 730Revenue 1940Revenue 1810Cash 900Account receivable 1510Cash 1720Unearned revenue 650Note payable 200Inventory 1320Accumulated Depreciatio 300

Asset LiabilitiesCash 2390 Owner's equityInventory 1750 Accounts payableFixed Assets 6200 Note PayableAccumulated depreciation -3100 Unearned RevenueAccounts Receivable 2460 Revenue from Continuing operationAllowance for doubtful accounts -70 Revenue

ExpensesTotal 9630 Total

Liabilities49902650

800650540

375032109630

Income StatementRevenue 3750Cost of Goods Sold 2480 Includes overheads, depreciation of assets & usage of inventorySG&A 730Operating Profit 540