1 Paid off a note payable of $5000 at the maturity date Notes Payable 5000 Cash 2 Income taxes of $100 are paid for the year Income Tax Expense 100 Cash 100 3 Received $1,500 for services to be performed next accounting period. Cash Unearned Revenue 1500 4 Record a sale on account for $50 Accounts Receivable 50 Sales Revenue 50 5 Purchased a new computer for $300 Equipment/Computer Cash 300 6 The company paid $4,800, which will cover its rent for the next six months. At the end of the first month, record the adjusting entry. Rent Expense 800 Prepaid Rent 7 Purchased inventoy on account for $150 (perpetual inventory system) Inventory 150 Accounts Payable