Sage Incorporated experienced the following transactions for Year 1, its first year of operations:

1. Issued common stock for $80,000 cash.
2. Purchased $205,000 of merchandise on account.
3. Sold merchandise that cost $166,000 for $330,000 on account.
4. Collected $294,000 cash from accounts receivable.
5. Paid $185,000 on accounts payable.
6. Paid $64,000 of salaries expense for the year.
7. Paid other operating expenses of $80,000.
8. Sage adjusted the accounts using the following information from an accounts receivable aging schedule:

Number of Days Past Due	Amount	Percent Likely to Be Uncollectible	Allowance Balance
Current	$ 21,600	0.01
030	9,000	0.05
3160	1,800	0.10
6190	1,800	0.20
Over 90 days	1,800	0.50

A. Organize the transaction data in accounts under an accounting equation.