Canadian Prairies Investments began by issuing common shares for cash of $100,000. The company immediately purchased computer

Question:

Canadian Prairies Investments began by issuing common shares for cash of $100,000. The company immediately purchased computer equipment on account for $60,000.
1. Set up the following T-accounts for the company: Cash, Computer Equipment, Accounts Payable, Share Capital.
2. Record the transactions directly in the T-accounts without using a journal.
3. Show that total debits equal total credits.