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May 10: Purchased lemon juicer for $150. May 15: Sold 1,500 cups of lemonade for $4 selling price per cup. May 16: Lemonade costs $2
May 10: Purchased lemon juicer for $150. May 15: Sold 1,500 cups of lemonade for $4 selling price per cup. May 16: Lemonade costs $2 per cup to make and you sold 1,500 cups this month. This is an expense known as Cost of Goods Sold, and reduces Inventory. Mav 20: Purchased additional inventorv for $4.000 on account. May 22. Paid tility hill for $10 May 31: Paid store rent for $900. \begin{tabular}{|l|l|l|r|} \hline Date & Account & Debit & Credit \\ \hline & Account & & \\ \hline & & \\ \hline \end{tabular}
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