Paid wages of $1,000 for the current period (example). Borrowed $5,000 cash from local bank using a short-term note. Purchased $2,000 of equipment on credit. Earned $400 of sales revenue; collected cash. Received $800 of utilities services, on credit. Earned $1,700 of service revenue, on credit. Paid $300 cash on account to a supplier. Incurred $70 of travel expenses; paid cash. Earned $400 of service revenue; collected half in cash, with balance on credit. Collected $100 cash from customers on account. Incurred $300 of advertising costs; paid half in cash, with balance on credit.