Debit Credit Cash 15,000 Accounts Receivable 30,000 Allowance for Bad Debts 500 Inventory 500 Land 10,000 Buildings 20,000 Acc. Dep Bldg. 1,000 Equipment 10,000 ACC. Dep. Equip. 2,000 Accounts Payable 10,000 Notes Payable 20,000 Common Stock 20,000 Retained Earnings 24,500 Sales 40,000 Sales Discounts 500 Purchases 25,000 Freight-In 1,000 Purchase Returns 1,500 Wages Expense 5,000 Advertising Expense 2,000 Interest Expense 200 Dividends 300 Total 119,500 119,500