Issued stock for $6 cash (example). purchased equipment costing $6,320, paying $4,893 in cash and charging the rest on account. paid $513 in principal and $91 in interest expense on long-term debt. earned $88,988 in sales revenue; collected $87,949 in cash with the customers owing the rest on account. incurred $10,766 in shipping expenses, all on credit. paid $28,241 cash on accounts owed to suppliers. incurred $4,332 in marketing expenses; paid cash. collected $620 in cash from customers paying on account. borrowed $6,359 in cash as long-term debt. used inventory costing $62,752 when sold to customers. paid $177 in income tax recorded as an expense in the prior year.