.

assets = liabilities + capital

cash, accounts receivable, notes payable, merchandise inventory, prepaid insurance, land, building, machineries and equipment

accounts payable, notes payable, salaries payable, mortgage payable, other expenses payable, interest payable, withholding tax payable, income tax payable

sales, service income, interest income, rent income, gain on sales of assets

salaries expenses, utilities expenses, communication, advertising and promotion, insurance, office supplies, repairs and maintenance, interest expense, taxes and licenses, miscellaneous

debit

credit

credit

debit

credit

debit

credit

debit

debit

credit

general journal, general ledger, subsidiary ledger

debit

credit

credit

credit