T-Accounts

Cash

Dec. 1

120,000

Dec. 1

5,500

Dec. 30

45,000

Dec. 19

50,000

Dec. 31

4,500

Dec. 31

10,000

Balance

95,000

Accounts Receivable

Dec. 15

60,000

Dec. 30

45,000

Balance

15,000

Merchandise

Dec. 8

71,000

Dec. 15

42,000

Balance

29,000

Equipment

Dec. 2

36,000

Balance

36,000

Accumulated Depreciation

Dec. 31

600

Balance

600

Accounts Payable

Dec. 19

50,000

Dec. 8

71,000

Balance

21,000

Notes Payable

Dec. 2

36,000

Balance

36,000

Owner’s Equity

Dec. 31

10,000

Dec. 1

120,000

Balance

110,000

Sales Revenue

Dec. 15

60,000

Balance

60,000

Cost of Goods Sold

Dec. 15

42,000

Balance

42,000

Rent Expense

Dec. 1

5,500

Balance

5,500

Salaries Expense

Dec. 31

4,500

Balance

4,500

Depreciation Expense

Dec. 31

600

Balance

600