Instruction I. Record following transactions as we did in class (Asset Liability + Equity 1. AA received cash $300,000 by issuing additional common stock 2. Received cash from room sales of $20,000 (i.e., earnings increased) 3. Sold rooms on account (i.e., accounts receivable), $3,000 4. Purchased van by cash, $30,000 5. Purchase of office equipment on account (i.e., accounts payable), $4,000 6. Received $1,000 cash by issuing additional common stock 7. Paid cash $4,000 for existing accounts payable (i.c., paid back current debt) 8. Received cash $5,000 from room sales (i.e., cearnings increased) 9. Payment of wages with cash, $3,000 (i.c., earnings decreased) Journal Entries Liability Acc. Payable Asset C/S 300,000 Cash Acc. Receivable VanEquipment R/E 300,000 20,000 2 20,000 3,000 -30,000 30,000 4,000 4,000 6 1,000 1,000 -4,000 5,000 -3,000 4,000 3,000 9 Total Total Asset Total Liab. Total Equit SO So S0