Problems Problem 4-1. Set up the following in T-account form and determine the ending balances insofar as these accounts are concerned. (Not all balance sheet accounts are shown.) Account Cash Accounts receivable Inventory Accounts payable Note payable Transactions: 1. Purchased inventory on account 2. Sold goods on account: sales revenues Cost of goods sold 3. Paid vendors 4. Collected from customers 5. Paid off note payable Beginning Balances Dr. Cr. $ 900 3,000 5,700 $3,600 950 $2,350 6,350 4,150 3,400 5,350 950