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At the end of last month, Ajax Inc. had the following balances in its accounts: Cash...

At the end of last month, Ajax Inc. had the following balances in its accounts: Cash $ 5,000 Inventory $10,000 Equipment $ 3,000 Land $10,000 Owe Jones $10,000 Common Stock $10,000 Retained Earnings $ 8,000 Set up the initial Balance Sheet for this month, make the appropriate entries for this month using the Accounting Equation, and show the ending Balance Sheet for this month. The following should be included for this month: a. Buy inventory from Jones on credit for $10,000 b. Sell goods for $4,000 c. Sell common stock for $1,000 d. Pay wages of $2,000 e. Pay tax of $1,000 f. Sell goods to Smith on credit for $15,000 g. Pay rent of $100 h. Pay Jones $2,000 i. Depreciate equipment $200 j. Inventory at the end of the month is worth $7,000

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