The Sundance Company presents the following trial balance at the beginning of 1979 and the adjusted, preclosing trial balance at the end of 1979.

All goods and services acquired during the year were purchased on account. All sales were made on account. The Other Operating Expenses account includes depreciation charges and expirations of prepayments.
Prepare a schedule showing all cash transactions for the year 1979. Dividends declared during the year were debited to Retained Earnings. (Hint: Set up T-accounts for each of the accounts listed in the trial balance and enter the amounts shown as of January 1, 1979, and December 31, 1979. Starting with the entries in revenue and expense accounts, reconstruct the transactions which took place during the year and enter the amounts in the appropriate \(\mathrm{T}\)-accounts. The effect of earning activities for the year is not yet reflected in the Retained Earnings account because the trial balance is preclosing.)

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Debits Cash Accounts Receivable Merchandise Inventory Prepayments. Land, Buildings, and Equipment Cost of Goods Sold. Interest Expense Other Operating Expenses Total Debits Credits Accumulated Depreciation Interest Payable Accounts Payable Mortgage Payable Capital Stock. Retained Earnings Sales Total Credits 1/1/79 $ 30,000 12/31/79 $ 25,000 54,000 62,000 68,000 76,000 4,000 3,000 40,000 46,000 87,000 1,000 32,000 $196,000 $332,000 $ 24,000 $ 27,000 1,000 45,000 51,000 25,000 20,000 80,000 80,000 21,000 19,000 135,000 $196,000 $332,000