Step 4: Post entries to t accounts. How do I enter this info into T Accounts?
Date
|
Accounts
|
Debit
|
Credit
|
1-Jul
|
Cash
|
15,000.00
|
|
|
Common Stock
|
|
15,000.00
|
|
Contributed cash for common stock
|
|
|
|
|
|
|
1-Jul
|
Baking Supplies
|
8,500.00
|
|
|
Accounts Payable
|
|
8,500.00
|
|
|
|
|
3-Jul
|
Cash
|
10,000.00
|
|
|
note payable
|
|
10,000.00
|
|
|
|
|
7-Jul
|
Rent
|
1,500.00
|
|
|
prepaid
|
1,500.00
|
|
|
cash
|
|
3,000.00
|
|
|
|
|
10-Jul
|
Business Lic
|
375.00
|
|
|
cash
|
|
375.00
|
|
|
|
|
11-Jul
|
Cash Register
|
250.00
|
|
|
cash
|
|
250.00
|
|
|
|
|
13-Jul
|
Baking Equipment
|
5,000.00
|
|
|
Common Stock
|
|
5,000.00
|
|
|
|
|
13-Jul
|
Advertising Expense
|
200.00
|
|
|
cash
|
|
200.00
|
|
|
|
|
14-Jul
|
Misc Supplies
|
300.00
|
|
|
cash
|
|
300.00
|
|
|
|
|
30-Jul
|
Phone bill
|
45.00
|
|
|
accounts payable
|
|
45.00
|
|
|
|
|
31-Jul
|
Insurance Expense
|
1,200.00
|
|
|
cash
|
|
1,200.00
|
|
|
|
|
31-Jul
|
Salary Expense
|
120.00
|
|
|
Salary expense
|
|
120.00
|
|
|
|
|
13-Jul
|
Accounts Receivable
|
5,000.00
|
|
|
cash
|
10,000.00
|
|
|
sales
|
|
15,000.00
|
Date
|
Accounts
|
Debit
|
Credit
|
5-Aug
|
Salary Expense
|
120.00
|
|
|
cash
|
|
120.00
|
|
|
|
|
8-Aug
|
Accounts Payable
|
3,200.00
|
|
|
cash
|
|
3,200.00
|
|
|
|
|
10-Aug
|
phone bill
|
45.00
|
|
|
cash
|
|
45.00
|
|
|
|
|
15-Aug
|
Baking Supplies
|
5,000.00
|
|
|
acct payable
|
|
5,000.00
|
|
|
|
|
15-Aug
|
Salary Expense
|
480.00
|
|
|
Salary Expense
|
|
480.00
|
|
|
|
|
15-Aug
|
Rent expense
|
1,500.00
|
|
|
cash
|
|
1,500.00
|
|
|
|
|
18-Aug
|
cash
|
1,000.00
|
|
|
Account Receivable
|
|
1,000.00
|
|
|
|
|
20-Aug
|
Accounts Payable
|
8,500.00
|
|
|
cash
|
|
8,500.00
|
|
|
|
|
20-Aug
|
Salary Payable
|
480.00
|
|
|
cash
|
|
480.00
|
|
|
|
|
22-Aug
|
Misc supplies
|
300.00
|
|
|
cash
|
|
300.00
|
|
|
|
|
31-Aug
|
Phone expense
|
45.00
|
|
|
accounts payable
|
|
45.00
|
|
|
|
|
31-Aug
|
Salary Expense
|
420.00
|
|
|
Salary payable
|
|
420.00
|
|
|
|
|
31-Aug
|
Accounts Receivable
|
7,500.00
|
|
|
cash
|
12,500.00
|
|
|
sales
|
|
20,000.00
|
Date
|
Accounts
|
Debit
|
Credit
|
1-Sep
|
Dividends
|
3,000.00
|
|
|
cash
|
|
3,000.00
|
|
|
|
|
5-Sep
|
salary payable
|
420.00
|
|
|
cash
|
|
420.00
|
|
|
|
|
7-Sep
|
Merch Inventory
|
60.00
|
|
|
cash
|
|
60.00
|
|
|
|
|
8-Sep
|
cash
|
4,000.00
|
|
|
accts receivable
|
|
4,000.00
|
|
|
|
|
10-Sep
|
Phone bill
|
45.00
|
|
|
cash
|
|
45.00
|
|
|
|
|
11-Sep
|
Baking Supplies
|
7,000.00
|
|
|
cash
|
|
7,000.00
|
|
|
|
|
13-Sep
|
accounts Payable
|
5,000.00
|
|
|
cash
|
|
5,000.00
|
|
|
|
|
15-Sep
|
salary expense
|
456.00
|
|
|
salary payable
|
|
456.00
|
|
|
|
|
15-Sep
|
Rent
|
1,500.00
|
|
|
cash
|
|
1,500.00
|
|
|
|
|
15-Sep
|
cash
|
68.00
|
|
|
Merch sales revenue
|
|
68.00
|
|
|
|
|
15-Sep
|
Cost of goods sold
|
48.00
|
|
|
Merc Inventory
|
|
48.00
|
|
|
|
|
20-Sep
|
salary payable
|
456.00
|
|
|
cash
|
|
456.00
|
|
|
|
|
20-Sep
|
Merc Inventory
|
122.00
|
|
|
cash
|
|
122.00
|
|
|
|
|
24-Sep
|
cash
|
153.00
|
|
|
merch sales rev
|
|
153.00
|
|
|
|
|
24-Sep
|
Cost of goods sold
|
109.60
|
|
|
merc inventory
|
|
109.60
|
|
|
|
|
30-Sep
|
merc inventory
|
151.25
|
|
|
cash
|
|
151.25
|