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Account Titles	Debit		Credit
Cash	$	4,500
Accounts receivable		7,400
Supplies		16,400
Land
Equipment		87,000
Accumulated depreciation (on equipment)			$	7,600
Other assets (not detailed to simplify)		5,000
Accounts payable
Wages payable
Interest payable
Income taxes payable
Long-term notes payable
Common stock (10,000 shares, $0.50 par value)				5,000
Additional paid-in capital				71,000
Retained earnings				36,700
Service revenue
Depreciation expense
Supplies expense
Wages expense
Interest expense
Income tax expense
Remaining expenses (not detailed to simplify)
Totals	$	120,300	$	120,300

Transactions during 2015 follow:
a.	Borrowed $12,000 cash on a five-year, 9 percent note payable, dated March 1, 2015.
b.	Purchased land for a future building site; paid cash, $12,000.
c.	Earned $211,000 in revenues for 2015, including $50,000 on credit and the rest in cash.
d.	Sold 5,000 additional shares of capital stock for cash at $1 market value per share on January 1, 2015.
e.	Incurred $102,000 in Remaining Expenses for 2015, including $24,000 on credit and the rest paid in cash.
f.	Collected accounts receivable, $37,000.
g.	Purchased other assets, $11,400 cash.
h.	Paid accounts payable, $23,000.
i.	Purchased supplies on account for future use, $23,800.
j.	Signed a three-year $36,000 service contract to start February 1, 2016.
k.	Declared and paid cash dividends, $22,500.
Data for adjusting entries:
l.	Supplies counted on December 31, 2015, $18,200.
m.	Depreciation for the year on the equipment, $7,600.
n.	Interest accrued on notes payable (to be computed).
o.	Wages earned by employees since the December 24 payroll but not yet paid, $15,800.
p.	Income tax expense, $9,800, payable in 2016.

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