Account Title	Debit			Credit
Cash	$	155,000
Accounts Receivable		134,000
Allowance for Doubtful Accounts				$	22,500
Inventory		443,000
Accounts Payable					104,000
Common Stock					495,000
Retained Earnings					110,500
Totals	$	732,000		$	732,000

Tile, Etc. had the following transactions in 2017:

1.	Purchased merchandise on account for $625,000.
2.	Sold merchandise that cost $465,000 for $980,000 on account.
3.	Sold for $290,000 cash merchandise that had cost $178,000.
4.	Sold merchandise for $235,000 to credit card customers. The merchandise had cost $114,000. The credit card company charges a 3 percent fee.
5.	Collected $710,000 cash from accounts receivable.
6.	Paid $655,000 cash on accounts payable.
7.	Paid $154,000 cash for selling and administrative expenses.
8.	Collected cash for the full amount due from the credit card company (see item 4).
9.	Loaned $55,000 to J. Parks. The note had an 6 percent interest rate and a one-year term to maturity.
10.	Wrote off $8,400 of accounts as uncollectible.
11.	Made the following adjusting entries:
	(a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account.
	(b) Recorded seven months of accrued interest on the note at December 31, 2017 (see item 9).