The following transactions took place at Aircraft Maintenance Company.
INSTRUCTIONS
For each transaction, set up T accounts from the following list: Cash; Shop Equipment; Store Equipment; Truck; Accounts Payable; Shirley Cosby, Capital; and Shirley Cosby, Drawing. Analyze each transaction. Record the effects of the transactions in the T accounts.
TRANSACTIONS
1. Shirley Cosby invested $40,000 cash in the business.
2. Purchased shop equipment for $3,600 in cash.
3. Bought store equipment for $2,400; payment is due in 30 days.
4. Purchased a used truck for $25,800 in cash.
5. Cosby gave the firm her personal tools that have a fair market value of $6,200.
6. Bought a used cash register for $2,850; payment is due in 30 days.
7. Paid $550 in cash to apply to the amount owed for store fixtures.
8. Cosby withdrew $3,250 in cash for personal expenses.

Analyze: 

Which transactions affect the Cash account?