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1. Biwheels pays $10000 on the Bank loan (ignore interest). 2. Smith buys furniture for his home for his home for $5,000, using his family

1. Biwheels pays $10000 on the Bank loan (ignore interest). 2. Smith buys furniture for his home for his home for $5,000, using his family charge account at Macy's. 3. Biwheels buys merchandise inventory for $50,000. Half the amount is paid in cash, and half is owed on open account. 4. Biwheels collects $200 more from its business debtor.

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