The following entries were made by the accountant of Patel Pastries during its first month of operation. 1. 2. 3. James Patel, the owner, deposited $3,000 in the business's new checking account. Patel Pastries paid the first month's rent of $400 in cash. Patel Pastries purchased equipment by signing a note payable of $11,000. Cash sales for the month were $4,500. Patel Pastries purchased cooking supplies for $1,400 cash. 4. 5. After the accountant posts these entries to the general ledger, how much are total assets? O $16,700 $18.100 $7.100 O $6.100