Brief Exercise 13-1 (Algo) T-accounts and the accounting equation The following events pertain to Outdoor Entertainment Incorporated which specializes in hosting outdoor music festivals across the nation: a. Borrowed $101,000 cash from a local bank to assist in funding the next outdoor festival. b. Paid $25,500 cash for supplies related to the festival. c. Received $150,500 cash for ticket sales related to the festival. d. Paid $50,200 in cash for employee salaries. Required: Record each of the following Outdoor Entertainment Incorporated events in T-accounts. Cash Debit Credit a. Notes Payable Debit Credit Cash Supplies Debit Credit Debit Credit b. Cash Sales Revenue Debit Credit Debit Credit C. Debit Cash Salary Expense Credit Debit Credit