Using the information provided in E4-7, prepare CC&C's t-accounts for all relevant accounts for the year ended December 31, 2018. Post journal entries in E4-7 to the general ledger.

Data from E4-7

Cakes & Crumbs Bakery (CC&C) ended its first year of operations on December 31, 2018. During 2018, the following transactions occurred:

January 10: The owners of CC&C invested $200,000 (the par value of the stock) and acquired 20,000 shares of common stock.

March 15: CC&C purchased equipment in the amount of $48,000 on credit account with the vendor April 12: CC&C purchased supplies in the amount of $24,000 and paid cash

May 31: CC&C collected $82,000 in sales revenue for the month, all of which was paid in cash. Ignore Cost of Goods Sold.

June 15: CC&C paid employees $22,000 in cash for wages.

July 31: CC&C purchased supplies in the amount of $16,000 on credit account with title supplier.

September 30: CC&C paid the balance due to the equipment vendor for title purchase made on March 15.

November 10: CC&C paid the balance due to the supplier for the purchase made on July 31.

November 30: CC&C recorded sales revenue in the amount of $216,000, half on credit and the other half paid in cash. Ignore Cost of Goods Sold.

December 20: The customers who owed CC&C for the November 30 sales paid their balances in full with cash.

CC&C uses the following chart of accounts:
Assets
100 Cash
101 Accounts Receivable
102 Supplies
111 Equipment
Liabilities
200 Accounts Payable
Stockholders' Equity
300 Common Stock
Revenues
400 Sales Revenue
Expenses
503 Wage Expense