This is a simple accounting question, about how to use T-account and balance sheet.To establish a noodle shop, Mark invested $500 and borrowed $500 from his friend. Mark needed to pay an interest of $10 to his friend each week. Mark spent $200 on the cookery equipment, which would be used for 20 weeks - after that, the equipment would have no value. In the first week, Mark's sale in cash was $200. But one transaction was not recorded in the cash sale. A customer this week forgot to bring cash and would definitely pay $20 in cash next week (event 7). The expenses that occurred during this week included $50 spent on raw materials and $50 for the shop rent.

(1)Use the simplified T-accounts to present these business activities or events on Week 1.

(tips: accounts may include asset-cash, asset-equipment, asset-"account receivables" liability-borrowings, equity-"introduced capital", equity-profit)

(2)Prepare the balance sheet on this week.