Question: Opened a bank account with previously earned ( retained earnings ) money for $ 1 0 0 , 0 0 0 Bought a house by

Opened a bank account with previously earned (retained earnings) money for $100,000
Bought a house by paying $75,000 down in cash and taking a loan of $225,000
Bought a vehicle by paying $1,000 down in cash and taking a loan of $44,000
Worked (performed services) to clients for $80,000 cash
Paid for materials used (expense) in the services performed with cash for $50,000
Paid for repairs and utilities of the house and vehicle (just regular expenses) with cash for $8,500
During the year, you paid $5,000 in interest and $9,500 in principal on the loan on the house with cash
During the year, you paid $600 in interest and $3,400 in principal on the loan on the vehicle with cash
During the year, you paid $18,500 for personal-related expenses in cash
At the end of the year, you purchased $3,250 in gifts (expenses) for others that you paid for with a new credit card
 Opened a bank account with previously earned (retained earnings) money for

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