Please create a T-Account with the following information:

Telephone bill is $75.00

Bakery Rent is $1,500.00

Print this page to use for your journal entries. Only accounts on this page can be used. Asset Accounts Liability Accounts Equity Accounts Acct # Acct # 301 302 201 Common Stock 202 Dividends 203 204 Cash Baking Supplies Prepaid Rent Prepaid Insurance Baking Equipment Office Supplies Accounts Receivable Accumulated Depreciation Merchandise Inventory Acct # 101 Notes Payable 102 Accounts Payable 103 Wages Payable 104 Interest Payable 105 106 107 108 109 Revenue Accounts Bakery Sales Merchandise Sales Acct # 401 402 This chart of accounts should help you identify the appropriate accounts to record to as you are analyzing and journaling transactions for this workbook. There is nothing to complete on this page; this is simply a resource for you. Expense Accounts Acct # Baking Supplies Expense Rent Expense Insurance Expense Misc. Expense Business License Expense Advertising Expense Wages Expense Telephone Expense Interest Expense Depreciation Expense Office Supplies Expense Cost of Goods Sold 509 510 511 Wage calculation data: Rate Pay 12 12 Month Hours 31 Jul. 10 15 Aug. 40 31 Aug. 35 15 Sep. 38 30 Sep. 40 120 480 420 12 12 456 480 The following events occur in August, 2018: August 5: Paid employee for period ending 7/31. August 8: Receive payments from customers towards accounts receivable in amount of $3,800. August 10: Paid July telephone bill. August 15: Purchase additional baking supplies in amount of $5,000 from vendor, on account. August 15: Accrue wages earned for employee from period of 1* through 15h of August (Wage calculations table provided below). August 15: Pay rent on bakery space. August 18: Receive payments from customers towards accounts receivable in amount of $3,000. August 20: Paid $8,500 toward baking supplies vendor payable. August 20: Pay employee for period ending 8/15. August 22: $300 in office supplies purchased. August 31: Received telephone bill for August in amount of $75. Payment is due on September 10. August 31: Accrue wages earned for employee for period of August 16th through August 31* (Wage calculations table provided below). August 31: August bakery sales total $20,000. $7,500 of this total is on accounts receivable