Transactions for Grover Company for the month of June are presented below.

Identify the accounts to be debited and credited for each transaction.

June 1 Issues common stock to investors in exchange for $5,000 cash.

2 Buys equipment on account for $1,100.

3 Pays $740 to landlord for June rent.

12 Bills Matt Wilfer $700 for welding work done.

AppendixLO1