The following transactions occurred during a recent year:
1. Paid wages of $750 for the current period (example).
2. Borrowed $3,750 cash from local bank using a short-term note.
3. Purchased $1,500 of equipment on cred6.
4. Earned $300 of sales revenue; collected cash.
5. Received $600 of utilities services, on credit.
6. Earned $1,280 of service revenue, on credit.
7. Paid $225 cash on account to a supplier.
8. Incurred $55 of travel expenses; paid cash.
9. Earned $300 of service revenue; collected half in cash, with balance on credit.
10. Collected $85 cash from customers on account.
11. Incurred $240 of advertising costs; paid half in cash, with balance on credit.