In the first month of business, Jakmak Interior Design Company had the following transactions:
Mar. 5 The owner, Jackie MacKenzie, invested $10,220 cash in the business.
7 Paid $350 cash for advertising the launch of the business.
9 Purchased supplies on account for $1,050.
11 Purchased a used car for $8,770 cash, for use in the business.
13 Billed customers $1,520 for services performed.
25 Borrowed $10,880 from the bank and signed a note payable.
26 Received $1,140 cash from customers billed on March 13.
29 Paid for the supplies purchased on March 9.
30 Received $800 cash from a customer for services to be performed in April.
31 Paid Jackie MacKenzie $1,720 cash for her personal use.
Instructions
For each transaction, indicate:
(a) The basic type of account debited and credited (asset, liability, or owner's equity);
(b) The specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.);
(c) Whether each account is increased (+) or decreased (ˆ’), and by what amount.
Use the following format to complete the exercise; the first one has been done for you as an example:

Transcribed Image Text:

Account Debited Account Credited Basic Specific Specific Account Owners J.MacKenzie,+10,220 Capital Basic Date Type AccountEffect Mar. 5 Asset Type Effect Cash +10,220 Equity