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Post the information from the journal entries into the T-accounts. Transaction and Accounts Affected Debit Amount Credit Amount Journal Entries (Record on Left) (Record on
Post the information from the journal entries into the T-accounts.
Transaction and Accounts Affected Debit Amount Credit Amount Journal Entries (Record on Left) (Record on Right) 1. purchase $335,000 $335,000 Accounts payable 2. $220,000 $220,000 Accounts receivable Sales revenue 3. $170,000 $170,000 cash accounts receivable 4. NA 5 $160,000 $160,000 $255,000 $255,000 $275,000 $275,000 $34,000 $34,000 5. cash sales 6. Accounts payable cash 7. COGS Inventory 8. salaries cash 9. interest cash 10. depreciation accumulated depreciation 11. Income tax Income tax payable $3,000 $3,000 $5000 $5000 X X Cash debit $20,000 credit Investment (Current) debit credit $12,000 Accounts Receivable debit credit $5,000 Inventory debit $29,000 credit PPE debit $270,000 credit Accumulated Depreciation debit credit $5,000 Accounts Payable debit credit $17,000 Income Tax Payable debit credit $0 Notes Payable (Nonourrent) debit credit $146,000 Common Stock debit credit $132,000 Retained Earnings debit credit $36,000 Sales Revenue debit credit Deporeciation Expense debit credit Cost of Goods Sold Expense debit credit Income Tax Expense debit credit Salaries Expense debit credit Interest Expense debit credit
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