Coates inc. experienced the following events in 2014, in its first year of operation: (1) received $20,000 cash from the issue of common stock. (2) performed services on account for $38,000. (3) paid the utility expense of $2,500. (4) collected $21,000 of the accounts receivable. (5) recorded $15,000 of accrued salaries at the end of the year. (6) paid a $2,000 cash dividend to the shareholders. record the events in general ledger accounts under an accounting equation.

Steven and Emily Campbell are planning to open a casual dining restaurant in downtown Akron, Ohio, and need $125,000 to get started. They have $50,000 of their own money, which leaves $75,000. After getting turned down by a couple of banks, they decided to turn to their relatives and acquaintances for help. Fortunately, they were able to raise the money through a gift from Steven's grandfather, a loan from Emily's parents, and a small investment by Steven's best friend in college, Doug. The money that an entrepreneur raises in this manner is referred to as .