Journal- debi/credit

-earned $30 of service revenue and collected 1/3 of the revenue in cash

-incurred $20 operating expenses and paid 1/4 of the operating expenses in cash

-recorded $5 of depreciation on the equipement

-sold stock for $25 and purchased equipment for $25

complete the financial statements

service revenue

operation expense

depreciation expense

net income

cash

account rec

equipment

total assets

accounts payable

common stock

retained earnings

total liablitles s/e

compe