Common Stock

$120,000

Accounts Payable

$25,000

Cash

$116,640

Accounts Receivable

$22,450

Supplies

$ 1,500

Office Equipment

$23,300

Prepaid Rent

$ 3,200

Unearned Revenue

$ 4,152

Revenue

$ 20,000

Utilities Expense

$ 422

Retained Earnings

$ 30,000

Shaving Equipment

$31,640

1.

Bill Co. paid $2,000 for one month rent

2.

Bill Co. paid $1,200 for two weeks wages

3.

Bill Co. performed $5,200 in consulting services on account

4.

Bill Co billed a customer $1,500 for services performed

5.

Bill Co. received $5,200 in payment for item 3

6.

Bill Co performed services and immediately collected $2,000

7.

Bill Co. paid $500 for advertising in the local paper