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The following accounts and transactions are for Vincent Sutton, Landscape Consultant. Transactions: a. Sutton invested $90,000 in cash to start the business. b. Paid $6,000 for the current month's rent. c. Bought office furniture for $10,580 in cash. d. Performed services for $8,200 in cash. e. Paid $1,250 for the monthly telephone bill. f. Performed services for $14,000 on credit. g. Purchased a computer and copier for $18,000; paid $7,200 in cash immediately with the balance due in 30 day h. Received $7,000 from credit clients. i. Paid $2,800 in cash for office cleaning services for the month. j. Purchased additional office chairs for $5,800; received credit terms of 30 days. k. Purchased office equipment for $22,000 and paid half of this amount in cash immediately; the balance is due I. Issued a check for $9,400 to pay salaries. m. Performed services for $14,500 in cash. n. Performed services for $16,000 on credit. o. Collected $8,000 on accounts receivable from charge customers. p. Issued a check for $2,900 in partial payment of the amount owed for office chairs. q. Paid $725 to a duplicating company for photocopy work performed during the month. r. Paid $1,280 for the monthly electric bill. s. Sutton withdrew $5,500 in cash for personal expenses. Post the above transactions into the appropriate T accounts. Analyze: What liabilities does the business have after all transactions have been recorded? Cash (a) (d) (h) (m) (0) 90,000 8,200 7,000 14,500 8,000 Accounts Receivable 14,000 7,000 16,000 8,000 15,000 Bal. 0 6,000 (b) 10,580 (c) 1,250 (e) 7,200 (9) 2,800(0) 11,000 (k) 9,400 (0) 2,900 (P) 725 (9) 1,280 (1) 5,500 (s) 69,065 Bal. Office Furniture Office Equipment Bal. Bal. Accounts Payable Vincent Sutton, Capital Bal. Bal. Vincent Sutton, Drawing Fees Income Bal. Bal. Rent Expense Utilities Expense Bal. Bal. Salaries Expense Telephone Expense Bal. Bal. Miscellaneous Expense Bal

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