[The following information applies to the questions displayed below.] Cougar Plastics Company has been operating for three years. At December 31 of last year, the accounting records reflected the following:

Cash	$	27,000		Accounts payable	$	15,000
Investments (short-term)		2,200		Accrued liabilities payable		2,800
Accounts receivable		4,700		Notes payable (short-term)		5,200
Inventory		28,000		Notes payable (long-term)		42,000
Notes receivable (long-term)		2,800		Common stock		9,300
Equipment		42,000		Additional paid-in capital		83,700
Factory building		95,000		Retained earnings		48,200
Intangibles		4,500

During the current year, the company had the following summarized activities:

1. Purchased short-term investments for $7,500 cash.
2. Lent $5,500 to a supplier who signed a two-year note.
3. Purchased equipment that cost $24,000; paid $5,000 cash and signed a one-year note for the balance.
4. Hired a new president at the end of the year. The contract was for $80,000 per year plus options to purchase company stock at a set price based on company performance.
5. Issued an additional 1,200 shares of $0.50 par value common stock for $19,000 cash.
6. Borrowed $10,000 cash from a local bank, payable in three months.
7. Purchased a patent (an intangible asset) for $2,500 cash.
8. Built an addition to the factory for $26,000; paid $7,300 in cash and signed a three-year note for the balance.
9. Returned defective equipment to the manufacturer, receiving a cash refund of $4,000.

Required:

1. & 2. Post the current year transactions to T-accounts for each of the accounts on the balance sheet. (Two items have been given in the cash T-account as examples).

Please help! Thank you so much in advance!!

Required: 1. & 2. Post the current year transactions to T-accounts for each of the accounts on the balance sheet. (Two items have been given in the cash T-account as examples). Answer is not complete. Cash Beg. Bal. 27,000 Beg. Bal. Investments (short-term) 2,200 7,500 (a) (a) 7,500 5,500 (b) (e) 5,000 (c) 2,500 (9) 7,300 (h) End. Bal. 19,000 10,000 9,700 (f) End. Bal. 28,200 Accounts Receivable 4,700 Inventory 28,000 Beg. Bal. Beg. Bal. End. Bal. 4,700 End. Bal. 28,000 Notes Receivable (long-term) 2,800 Equipment 42,000 Beg. Bal. Beg. Bal. (c) (b) 5,500 24,000 4,000 (0) End. Bal. 8,300 End. Bal. 62,000 Beg. Bal. (h) Factory Building 95,000 26,000 Beg. Bal. (g) Intangibles 4,500 2,500 End. Bal. 121,000 End. Bal. 7,000 Accrued Liabilities Payable Accounts Payable 15,000 10,000 X Beg. Bal. Beg. Bal. (f) 2,800 x End. Bal. 25,000 End. Bal. 2,800 Beg. Bal. Beg. Bal. Notes Payable (short-term) 5,200 19,500 X (c) 0 X Long-Term Notes Payable 42,000 11,000 X (h) End. Bal. 24,700 End. Bal. 53,000 Common Stock Additional Paid-in Capital 83,700 Beg. Bal. 9,300 Beg. Bal. > End. Bal. 9,300 End. Bal. 83,700 Retained Earnings 48,200 Beg. Bal. End. Bal. 0 48,200