Question: After journalizing all entries, post all transactions to T-Accounts. Once all entries are posted, sum all T-Accounts to reflect ending balances. Remember normal balances.

Business Activities During September 2020 the following activities occurred: Note: Rugged Rags uses perpetual inventory system 912020 AgaBee's Rugged Rags issued stock to Gill Bates for his contribution of $250,000. 972020 AgaBee's Rugged Rags purchased $105,000 of clothing (inventory) with cash. 912020 $24,000 was paid in advance for 6 months of rent. 9112020 AgaBee's Rugged Rags borrowed $50,000 on a 5 year, 4% annual interest loan from Columbia Bank. 92/2020 Purchased office supplies costing $6,000 on account. 93/2020 Received and paid a bill for advertising for $175. 932020 Hired a graphic designer create business cards (advertising expense) - received her invoice for $500. 94/2020 For week one - we sold clothing with a cost of $4,200 for $9,300. All sales were for paid in full with cash or credit cards. 916/2020 Purchased computers for business use for $3,000 cash. 916/2020 Purchased clothing for inventory for $5,000 on account. 9/8/2020 Paid cash for half of supplies purchased on 9220. 9/9/2020 Sold $3,000 of clothing to small shop in Winthrop WA for $6,000 on account with terms 2010./30. 9/10/2020 AgaBee's Rugged Rags established a petty cash fund in the amount of $600. 9122020 In week two sold clothing costing $7,000 to customers for $15,000 for cash or credit card. 9/12/2020 In Week Two sold clothing costing $11,000 to customers for $25,000 on account with terms of Net 30. 9/12/2020 The small shop in Wintrhop paid AgaBee's Rugged Rags for the clothing purchased on September 9th ( don't forget to che 9142020 AgaBee's Rugged Rags sold 3 gift cards for $300 each. No merchandise was sold at this time. 9/16/2020 in Week Three sold clothing costing $14,000 to customers for $30,000 for cash. 920/2020 Received $4,500 from a the Winthrop WA Shop for clothing to be delivered in November. 9/24/2020 Received $18,000 for clothing purchased on account in week two (noted on Sept 12th) 9242020 In Week four sold clothing costing $6,900 for $15,000 cash or credit card. 926/2020 Returned $2,000 of clothing to manufacturer but have not received the refund yet. 9/26/2020 The Winthrop WA Store returned clothing they paid $1000 for with a cost to us of $450. 929/2020 Petty Cash was replenished for $400 to cover a promotion made at a Mariners game advertising expense) 9/30/2020 in Week Five - sold clothing costing $8,000 for $20,000 cash 930/2020 In Week five - sold clothing costing $12,000 for $28,000 on account - Net 30. 9/30/2020 Paid wages to employees for September totaling $15,000. 930/2020 Paid dividends totaling $4,500. The following data are available for adjusting entries: 9/30/2020 Record rent expense for September. 930/2020 Record monthly interest expense on the Columbia loan. 9/30/2020 Records show customers used $500 of gift cards to purchase inventory with a value of $300. 930/2020 AgaBee's Rugged Rags had a Cell phone bill of $400 unpaid at end of the month. 9/30/2020 Record depreciation of computer equipment for $500 930/2020 At the end of the month, $1,500 of supplies remain in the supply closet. T-accounts (Note-the number of cells for each T-account doesn't equate to the number of correct entries - in most cases there's extra cells) CASH PETTY CASH INVENTORY PREPAID RENT OFFICE SUPPLIES ACCOUNTS RECEIVABLE COMPUTERS ACC DEPREC ACCOUNTS PAYABLE GIFT CARD LIAB NOTE PAYABLE OWNER'S STOCK CUST DEPOSIT LIAB INTEREST PAYABLE DIVIDENDS SALES SALES RET AND ALLOW SALES DISCOUNT COST OF GOODS SOLD ADVERTSING EXPENSE PAYROLL EXPENSE RENT EXPENSE DEPREC EXPENSE PHONE EXPENSE OFFICE SUPP EXPENSE INTEREST EXPENSE Retained Earnings Business Activities During September 2020 the following activities occurred: Note: Rugged Rags uses perpetual inventory system 912020 AgaBee's Rugged Rags issued stock to Gill Bates for his contribution of $250,000. 972020 AgaBee's Rugged Rags purchased $105,000 of clothing (inventory) with cash. 912020 $24,000 was paid in advance for 6 months of rent. 9112020 AgaBee's Rugged Rags borrowed $50,000 on a 5 year, 4% annual interest loan from Columbia Bank. 92/2020 Purchased office supplies costing $6,000 on account. 93/2020 Received and paid a bill for advertising for $175. 932020 Hired a graphic designer create business cards (advertising expense) - received her invoice for $500. 94/2020 For week one - we sold clothing with a cost of $4,200 for $9,300. All sales were for paid in full with cash or credit cards. 916/2020 Purchased computers for business use for $3,000 cash. 916/2020 Purchased clothing for inventory for $5,000 on account. 9/8/2020 Paid cash for half of supplies purchased on 9220. 9/9/2020 Sold $3,000 of clothing to small shop in Winthrop WA for $6,000 on account with terms 2010./30. 9/10/2020 AgaBee's Rugged Rags established a petty cash fund in the amount of $600. 9122020 In week two sold clothing costing $7,000 to customers for $15,000 for cash or credit card. 9/12/2020 In Week Two sold clothing costing $11,000 to customers for $25,000 on account with terms of Net 30. 9/12/2020 The small shop in Wintrhop paid AgaBee's Rugged Rags for the clothing purchased on September 9th ( don't forget to che 9142020 AgaBee's Rugged Rags sold 3 gift cards for $300 each. No merchandise was sold at this time. 9/16/2020 in Week Three sold clothing costing $14,000 to customers for $30,000 for cash. 920/2020 Received $4,500 from a the Winthrop WA Shop for clothing to be delivered in November. 9/24/2020 Received $18,000 for clothing purchased on account in week two (noted on Sept 12th) 9242020 In Week four sold clothing costing $6,900 for $15,000 cash or credit card. 926/2020 Returned $2,000 of clothing to manufacturer but have not received the refund yet. 9/26/2020 The Winthrop WA Store returned clothing they paid $1000 for with a cost to us of $450. 929/2020 Petty Cash was replenished for $400 to cover a promotion made at a Mariners game advertising expense) 9/30/2020 in Week Five - sold clothing costing $8,000 for $20,000 cash 930/2020 In Week five - sold clothing costing $12,000 for $28,000 on account - Net 30. 9/30/2020 Paid wages to employees for September totaling $15,000. 930/2020 Paid dividends totaling $4,500. The following data are available for adjusting entries: 9/30/2020 Record rent expense for September. 930/2020 Record monthly interest expense on the Columbia loan. 9/30/2020 Records show customers used $500 of gift cards to purchase inventory with a value of $300. 930/2020 AgaBee's Rugged Rags had a Cell phone bill of $400 unpaid at end of the month. 9/30/2020 Record depreciation of computer equipment for $500 930/2020 At the end of the month, $1,500 of supplies remain in the supply closet. T-accounts (Note-the number of cells for each T-account doesn't equate to the number of correct entries - in most cases there's extra cells) CASH PETTY CASH INVENTORY PREPAID RENT OFFICE SUPPLIES ACCOUNTS RECEIVABLE COMPUTERS ACC DEPREC ACCOUNTS PAYABLE GIFT CARD LIAB NOTE PAYABLE OWNER'S STOCK CUST DEPOSIT LIAB INTEREST PAYABLE DIVIDENDS SALES SALES RET AND ALLOW SALES DISCOUNT COST OF GOODS SOLD ADVERTSING EXPENSE PAYROLL EXPENSE RENT EXPENSE DEPREC EXPENSE PHONE EXPENSE OFFICE SUPP EXPENSE INTEREST EXPENSE Retained Earnings