Transactions for the Kaustav Sen Company, which provides welding services, for the month of June are presented below. Identify the accounts to be debited and credited for each transaction.

Kaustav Sen invests $4,000 cash in exchange for shares of common stock in a small welding business.

2 Purchases equipment on account for $900.

i 3 $800 cash is paid to landlord for June rent.

12 Bills L. Nigh $300 for welding work done on account.

June 1 Journalize transactions.

(LO 4)

Identify and explain steps in recording process.

(LO 3)

Indicate basic and debitcredit analysis.

(LO 2)