Required information [The following information applies to the questions displayed below.] Sage Incorporated experienced the following transactions for Year 1, its first year of operations: 1. Issued common stock for $110,000 cash. 2. Purchased $195,000 of merchandise on account. 3. Sold merchandise that cost $154,000 for $306,000 on account. 4. Collected $272,000 cash from accounts receivable. 5. Paid $175,000 on accounts payable. 6. Paid $66,000 of salaries expense for the year. 7. Paid other operating expenses of $82,000. 8. Sage adjusted the accounts using the following information from an accounts receivable aging schedule: Number of Days Past Due Current 0-30 31-60 61-90 Over 90 days Amount $ 20,400 8,500 1,700 1,700 1,700 Percent Likely to Be Allowance Uncollectible Balance 0.01 0.05 0.10 0.20 0.50

Required information [The following information applies to the questions displayed below] Sage Incorporated experienced the following transactions for Year 1, its first year of operations: 1. Issued common stock for $110,000 cash. 2. Purchased $195,000 of merchandise on account. 3. Sold merchandise that cost $154,000 for $306,000 on account. 4. Collected $272,000 cash from accounts receivable. 5. Paid $175,000 on accounts payable. 6. Paid $66,000 of salaries expense for the year. 7. Paid other operating expenses of $82,000. 8. Sage adjusted the accounts using the following information from an accounts receivable aging schedule: Required information [The following information applies to the questions displayed below.] Sage Incorporated experienced the following transactions for Year 1 , its first year of operations: 1. Issued common stock for $110,000 cash. 2. Purchased $195,000 of merchandise on account. 3. Sold merchandise that cost $154,000 for $306,000 on account. 4. Collected $272,000 cash from accounts receivable. 5. Paid $175,000 on accounts payable. 6. Paid $66,000 of salaries expense for the year. 7. Paid other operating expenses of $82,000. 8. Sage adjusted the accounts using the following information from an accounts receivable aging schedule Required: a. Organize the transaction data in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Not all celis require input