Denise Carswell decided to start a dental practice. The first five transactions

Question

Denise Carswell decided to start a dental practice. The first five transactions for the business follow invested $83,00 00 cash in the business 2. Paid $23,000 in cash for equipment. 3. Performed services for cash amounting to $8,300 4. Paid $3,100 in cash for advertising expense. 5. Paid $2,300 in cash for supplies (1) Select which two accounts are affected in each of the above transactions. Debit Transactions Transaction 1 Transaction 2 Transaction 3 Transaction 4 Transaction 5 Credit (2&3)Post the above transactions into the appropriate T accounts Cash Equipment Bal Bal

Explanation / Answer

Solution 1:

Solution 2:

Transactions Debit Credit 1 Cash Denise Carswell's Capital 2 Equipment Cash 3 Cash Fees Income 4 Advertising Expense Cash 5 Supplies Cash

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