Adam Deeds purchased a small roadside motel in April with inheritance money he received from his wealthy aunt. Help him prepare his T accounts for his first month of operations using the information provided.

a. Adam invested $5,000,000 cash in the motel.

Cash Owners’ Equity

b. Adam purchased a $50,000 point of sale (POS) system with $5,000 cash and

$45,000 notes payable.

Cash POS system Notes Payable er

c. Adam generated $75,000 in revenues with $52,000 cash and $23,000 accounts receivable.

Cash Accounts Receivable Revenues

d. Adam paid utilities of $750 in cash.

Cash Utilities Expense