Selected accounts from the general ledger of the Ray Shipping Service follow. Analyze the following transactions and

Question:

Selected accounts from the general ledger of the Ray Shipping Service follow. Analyze the following transactions and indicate by number what accounts should be debited and credited for each transaction.
101 Cash
111 Supplies
131 Equipment
202 Richelle Ray, Capital
401 Fees Income
511 Rent Expense
514 Salaries Expense
517 Utilities Expense
TRANSACTIONS
1. Gave a cash refund of $750 to a customer because of a lost package. (The customer had previously paid in cash.)
2. Sent a check for $1,050 to the utility company to pay the monthly bill.
3. Provided services for $7,800 on credit.
4. Purchased new equipment for $4,600 and paid for it immediately by check.
5. Issued a check for $3,500 to pay a creditor on account.
6. Performed services for $15,250 in cash.
7. Collected $6,250 from credit customers.
8. The owner made an additional investment of $25,000 in cash.
9. Purchased supplies for $3,250 on credit.
10. Issued a check for $3,750 to pay the monthly rent.
Accounts Payable
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Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...