Cougar Plastics Company has been operating for three years. At December 31, 2014, the accounting records reflected the following:

Cash	$	20,000		Accounts payable	$	18,000
Investments (short-term)		3,100		Accrued liabilities payable		3,300
Accounts receivable		3,300		Notes payable (short-term)		7,800
Inventory		24,000		Notes payable (long-term)		42,000
Notes receivable (long-term)		1,100		Common stock		9,400
Equipment		49,000		Additional paid-in capital		84,600
Factory building		98,000		Retained earnings		37,800
Intangibles		4,400

During the year 2015, the company had the following summarized activities:

a.	Purchased short-term investments for $7,800 cash.
b.	Lent $5,600 to a supplier who signed a two-year note.
c.	Purchased equipment that cost $26,000; paid $4,700 cash and signed a one-year note for the balance.
d.	Hired a new president at the end of the year. The contract was for $78,000 per year plus options to purchase company stock at a set price based on company performance.
e.	Issued an additional 1,900 shares of $0.50 par value common stock for $20,000 cash.
f.	Borrowed $13,000 cash from a local bank, payable in three months.
g.	Purchased a patent (an intangible asset) for $1,000 cash.
h.	Built an addition to the factory for $24,000; paid $7,400 in cash and signed a three-year note for the balance.
i.	Returned defective equipment to the manufacturer, receiving a cash refund of $2,800.

Required information

QUESTION:

1. Post the T-accounts for each of the accounts on the balance sheet . (Items given are correct).

Cash					Investments (short-term)
Beg. Bal.	20,000				Beg. Bal.	3,100
		7,800	(a)
		5,600	(b)
(f)	13,000
(i)	2,800				End. Bal.	3,100
		4,700	(c)
End. Bal.	17,700
Accounts Receivable					Inventory
Beg. Bal.	3,300				Beg. Bal.	24,000
End. Bal.	3,300				End. Bal.	24,000
Notes Receivable (long-term)					Equipment
Beg. Bal.	1,100				Beg. Bal.	49,000
					(c)	26,000
End. Bal.	1,100				End. Bal.	75,000
Factory Building					Intangibles
Beg. Bal.	98,000				Beg. Bal.	4,400
					(g)	1,000
End. Bal.	98,000				End. Bal.	5,400
Accounts Payable					Accrued Liabilities Payable
Beg. Bal.		18,000			Beg. Bal.		3,300
End. Bal.		18,000			End. Bal.		3,300
Notes Payable (short-term)					Long-Term Notes Payable
Beg. Bal.		7,800			Beg. Bal.		42,000
		13,000	(f)
		21,300	(c)				16,600	(h)
End. Bal.		42,100			End. Bal.		58,600
Common Stock					Additional Paid-in Capital
Beg. Bal.		9,400			Beg. Bal.		84,600
		950	(e)
End. Bal.		10,350			End. Bal.		84,600
Retained Earnings
Beg. Bal.		37,800
End. Bal.	0	37,800