I $5-5$ Use of T$-$Accounts

Study Appendix $15$B$.$ The Tennis Club had the following transactions during June:

a$.$ Sold an old computer for $$175$ cash and a promise to pay $$250$ in one month. The balance sheet value of the computer was

$$425$

b$.$ Collected $$550$ of dues in cash that had been billed in May.

c$.$ Bought a postage meter on credit for $$190.$

d$.$ Received the $$225$ promised in transaction a$.$

Set up T$-$accounts for the following accounts:

a$.$ Cash

b$.$ Dues Receivable

c$.$ Accounts Receivable

d$.$ Equipment

e$.$ Accounts Payable

Make entries for each of the four transactions into the T$-$accounts. Label each entry $a,b,c,$ and $d.$