Stephanie Martinez opened a Latin Fusion restaurant downtown in a large southern city. She has asked you, her accountant, to complete The Accounting Formulas for some of her ﬁrst month’s transactions. Complete the following Accounting Formulas.
a. The restaurant started with a $1,200,000 check from its owner, Stephanie.
b. The restaurant generated revenues of $5,000 on accounts receivable.
c. Stephanie purchased a $400,000 building with $40,000 cash and a $360,000 mortgage.
d. Stephanie paid $550 cash for the utilities bill.