IPW, Inc., began operations on January 1, 2010. The seven transactions recorded during January by the company accountant, are shown in the following T-accounts:

Complete the following table. For each transaction shown, determine the accounts affected, the type of account, whether the account increases or decreases, and whether it would be recorded in the journal on the debit or credit side.

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Cash 111 Equipment 114 Dividends 322 (1) 15.000 (2) 3,000 (2) 3,000 (7) 1,000 (5) 250 Bal 3,000 Bal 1,000 (6) 2.300 (7) 1,000 Accounts Payable 211 Service Revenue 411 Bal 8,450 (5) 250 (3) Bal 600 (4) 4,500 350 Bal 4,500 Accounts Receivable 112 Common Stock 311 (4) 4,500 (1) 15.000 Operating Expenses 511-524 Bal 4,500 Bal 15,000 (6) 2,300 Bal 2,300 Supplies 113 (3) 600 Bal 600