A. made cash sales of $49,000 (example).
b. purchased $3,000 of additional supplies on account.
c. borrowed $58,000 on long-term notes.
d. purchased $18,600 in additional equipment, paying in cash.
e. incurred $27,000 in selling expenses, paying two-thirds in cash and owing the rest on account. f. paid $4,700 in rent for this month, and $4,700 for next month.

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JuliettaGlassford JuliettaGlassford · Answer 1 · 2018-09-18T19:18:33+02:00

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