Cintu is a large marketer and distributor of food service products serving restaurants, hotels, schools, hospitals, and other institutions. The following transactions are typical of those that occurred in a recent year, but the amounts are simplified.

1. Borrowed $125,000 from a bank, signing a short-term note payable.
2. Provided $102,600 in service to customers, with $97,400 on account and the rest received in cash.
3. Purchased equipment for $175,000 in cash.
4. Incurred and paid employee wages of $2,250.
5. Received $745 on account from a customer.
6. Incurred and paid $4,200 cash for travel costs during the year.
7. Paid $8,000 cash on accounts payable.
8. Incurred $22,500 in utility expenses during the year, of which $16,900 was paid in cash and the rest owed on account.