Record following transactions as we did in class (Asset Liability + Equity) 1. AA received cash $200,000 by issuing additional common stock 2. Received cash from room sales of $10,000 (i.e., earnings increased) 3. Sold rooms on account (i.e., accounts receivable), $1,000 4. Purchased van by cash, $30,000 5. Purchase of office equipment on account (i.e., accounts payable), $1,000 6. Received $1,000 cash by issuing additional common stock 7. Paid cash $500 for existing accounts payable (i.e., paid back current debt) 8. Received cash $500 from rental from vending machines (i.e., earnings increased) 9. Payment of wages with cash, $3,000 (i.e., earnings decreased) Journal Entries Asset Cash Acc. Receivable Van Equipment Liability Acc. Payable Equity C/S R/E 1 2 3 4 5 6 7 8 9 Total Total Asset Total Equity Total Liab. $0 $0 $0