Retained earnings Cost of goods sold $ 137,600 1,100 6,000 25,000 32,000 8,200 $ 2,000 Cash March 31, 2013 Accounts receivable Net revenues Total current liabilities All other expenses Other current assets Other assets 28,100 Property and equipment, net 175,500 Common stock 50,800 Inventories 27,000 Long-term liabilities 4700 | Dividends 25,000 **All amounts are in thousands In accounting the order of accounts can be very important, for example, on an income statement revenues should appear before expenses. But there are instances where the order of a group of accounts does not matter, like in the expense section of an income statement where it doesn't matter the order of all the individual expense accounts. Always refer to the green instructions to see if a particular order is required. See the example below, for all journal entries debit accounts must always come before the credit accounts. The order of individual debit or credit accounts does not matter as long as all of the debit accounts appear before all of the credit accounts. Requirement 3. Journalize the earning of service revenue: $53,000 on account and then an additional $39,000 in cash. (Record debits first, then credits. Explanations are not required) Journal Entry Date Accounts Debit Credit 21 Cash Accounts Receivable