The accountant for the firm owned by Randy Guttery prepares financial statements at the end of each month. The following transactions for Randy Guttery, Landscape Consultant took place during the month ended June $30,2019.$ The following transactions are for Randy Guttery, Landscape Consultant.

Transactions:

a$.$ Guttery invested $$140,000$ in cash to start the business.

b$.$ Paid $$4,000$ for the current month's rent.

c$.$ Bought office furniture for $$14,720$ in cash.

d$.$ Performed services for $$9,200$ in cash.

e$.$ Paid $$1,050$ for the monthly telephone bill.

f$.$ Performed services for $$15,000$ on credit.

g$.$ Purchased a computer and copier for $$34,000$; paid $$11,000$ in cash immediately with the balance due in $30$ days.

h$.$ Received $$7,500$ from credit clients.

i$.$ Paid $$2,000$ in cash for office cleaning services for the month.

j$.$ Purchased additional office chairs for $$3,800$; received credit terms of $30$ days.

k$.$ Purchased office equipment for $$20,000$ and paid half of this amount in cash immediately; the balance is due in $30$ days.

I. Issued a check for $$7,400$ to pay salaries.

m$.$ Performed services for $$15,500$ in cash.

n$.$ Performed services for $$17,000$ on credit.

o$.$ Collected $$6,000$ on accounts receivable from charge customers.

p$.$ Issued a check for $$1,900$ in partial payment of the amount owed for office chairs.

q$.$ Paid $$500$ to a duplicating company for photocopy work performed during the month.

r$.$ Paid $$1,020$ for the monthly electric bill.

s$.$ Guttery withdrew $$7,000$ in cash for personal expenses.

Post the above transactions into the appropriate $T$ accounts.

Analyze:

What liabilities does the business have after all transactions have been recorded?

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