Loss on cash sale of equipment was $$7,400$

Sold equipment costing $$69000$ with accumulated depreciatiin of $$41000$ for $$20600$ cash

Purchased equipment costing $$150000$ by paying $$40000$ cash and signing a long term note payable for the balance

Borrow $$6000$ cash hy signing a short term note payable

Paid $85000$$ cash to reduce the long term notes payable

Issued $4800$ shares of common stock for $$20$ cash per share

Declared and paid cash dividends of $194600$$

Reconstruct a journal entry work sheey incorporating the change in related balance sheet accounts in photo

$1.$ Cash receipts from customers

$2.$ Cash payments for inventory

$3.$ Depreciation expense

$4.$ Cash paid for opersting

$5.$ Sale of equipment at loss

$6.$ Taxes expense

$7.$ Purchse of new equipment

$8.$ Short term note payable

$9.$ Payment on long term note

$10.$ Issuance of commin stocj

$11.$ Payment of cash dividends

$12.$ Close the revenue sccount to income summary

$13.$ Close the expense and loss accounts to income summary

$14.$ Close incime summary to retained earnings