a. The company purchased equipment for $4,000 cash. The equipment is expected to be used for 10 or more years. b. Joel's business bought $7,000 worth of inventory from a publisher. The company will pay the publisher within 45 to 60 days. c. Joel's friend Sam lent $4,000 to the business. Sam had Joel write a note promising that Bookmart.com would repay the $4,000 in four months. Because they are good friends. Sam is not going to charge Joel interest d. The company paid $1,500 cash for books purchased on account earlier in the month. e. Bookmart.com repaid the $4,000 loan established in (c). a. Accumulated Depreciation a b. a d e. Total Assets => 10= Accounts Payable Liabilities + Stockholders' Equity