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Would say pb-j cafe co owes more money and why

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Reference no: EM132625800

Reha is working on her favorite thing ever - T accounts for PB&J Cafe Co. Currently, she's working with the T accounts for the following accounts:

  1. The Peanut Gallery--a liability--from which PB&J Cafe Co. buys its bushels of peanuts, has a credit of $450.
  2. For Rover's Sake--an asset--for which PB&J Cafe Co. provides catering services, has a debit of $125.

Problem 1: If you're looking at these accounts and these accounts only, would you say PB&J Cafe Co. owes more money than it has, or vice versa? Why?

Reference no: EM132625800

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