The following accounts and transactions are for Vincent Sutton, Landscape Consultant.

INSTRUCTIONS
Analyze the transactions. Record each in the appropriate T accounts. Identify each entry in the T accounts by writing the letter of the transaction next to the entry.
ASSETS
Cash
Accounts Receivable
Office Furniture
Office Equipment

LIABILITIES
Accounts Payable
OWNER’S EQUITY
Vincent Sutton, Capital
Vincent Sutton, Drawing
REVENUE
Fees Income
EXPENSES
Rent Expense
Utilities Expense
Salaries Expense
Telephone Expense
Miscellaneous Expense

TRANSACTIONS
a. Sutton invested $90,000 in cash to start the business.
b. Paid $6,000 for the current month’s rent.
c. Bought office furniture for $10,580 in cash.
d. Performed services for $8,200 in cash.
e. Paid $1,250 for the monthly telephone bill.
f. Performed services for $14,000 on credit.
g. Purchased a computer and copier for $18,000; paid $7,200 in cash immediately with the balance due in 30 days.
h. Received $7,000 from credit clients.
i. Paid $2,800 in cash for office cleaning services for the month.
j. Purchased office chairs for $5,800; received credit terms of 30 days.
k. Purchased office equipment for $22,000 and paid half of this amount in cash immediately; the balance is due in 30 days.
l. Issued a check for $9,400 to pay salaries.
m. Performed services for $14,500 in cash.
n. Performed services for $16,000 on credit.
o. Collected 8,000 on accounts receivable from charge customers.
p. Issued a check for $2,900 in partial payment of the amount owed for office chairs.
q. Paid $725 to a duplicating company for photocopy work performed during the month.
r. Paid $1,280 for the monthly electric bill.
s. Sutton withdrew $5,500 in cash for personal expenses.

Analyze: 

What liabilities does the business have after all transactions have been recorded?