KN POST Transactions 1. Peterson invests 3,000 into company 2.600 of supplies are bought with cash 3. Co borrows 22,000 from bank. 4. Co bys inventory on account, 5,500. 5. Co buys truck for 9000 6. Co, buys building for 14,000 7. Sale on account for 6,500, inventory cost 3,700 8. Withdraw by owner, 1.200 9. Insurance for next year is bought, 3,600 10. Received 4,000 payment for AIR 11. Made a 2,600 payment on AIP Expense Drawing, Peterson Adjusting Entries 12. Expired insurance, 400 13. Accrued salaries, 1,550 14. Supplies on hand, 350 Peterson Co. Income Statement Peterson Co. Balance Sheet Cash Expenses Net Income Peterson Co. State of Owner's Equity Form 14 SUM(A2:A13] BDLEG T W Y Expense Capital, Peterson Drawing. Peterson Totals P O S Peterson Co. State of Owner's Equity V Huilding Inventory Total Assets Beg Bal investiments Post Closing Trial Balance Net Income Withdraws End, Balance Bank Loan Total Liabilities Cap. Peterso Prepaid in Total Liab & Equity Building Capital, Peterson Drawing. Peterson CH 5 HOMEWOR Form