Reference cells, instead of entering values. Example: =B3+C3

6 8 12 15 18 20 The following transactions occurred for Lantana Company during Rs first month of operations and have been recorded in the T-accounts below. a. Received $50,000 cash from Lantana, the sole proprietor. b. Purchased land for $20,000, paid $5,000 in cash and signed a 2-year note for the remainder. c. Bought $900 of supplies on account. d. Purchased $10,000 of equipment, paying cash. e. Paid $500 on account for supplies purchased in transaction (c). a. bal. b. bal. Cash 50,000 34 500 Land 20,000 20 ooo Accounts Payable Lantana, Capital 5,000 10,000 500 soo 400 50,000 50 ooo b. d. bal. d. bal. bal. a. bal. Supplies Equipment 10,000 10 ooo Note Payable 15,000 15 ooo b. bal.