(1.)	The firm borrowed $4,000 from the bank; a short-term note was signed.
(2.)	Merchandise inventory costing $1,500 was purchased; cash of $400 was paid and the balance is due in 30 days.
(3.)	Employee wages of $2,000 were accrued at the end of the month.
(4.)	Merchandise that cost $700 was sold for $900 in cash.
(5.)	This month's rent of $1,400 was paid.
(6.)	Revenues from services during month totaled $13,000. Of this amount, $4,000 was received in cash and the balance is expected to be received within 30 days.
(7.)	During the month, supplies were purchased on account at a cost of $1,040, and debited into the Supplies (asset) account. A total of $800 of supplies were used during the month.
(8.)	Interest of $480 has been earned on a note receivable, but has not yet been received.