For each transaction that follows, indicate which account is debited and which account is credited. May 2

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For each transaction that follows, indicate which account is debited and which account is credited.

May 2 Leon Stoker started a computer programming business, Stoker’s Programming Service, Inc., by investing $10,000 in exchange for common stock.
5 Purchased a computer for $5,000 in cash.
7 Purchased supplies on credit for $600.
19 Received cash for programming services performed, $1,000.
22 Received cash for programming services to be performed, $1,200.
25 Paid the rent for May, $1,300.
31 Billed a customer for programming services performed, $500.
Recording Transactions in T Accounts

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Financial Accounting

ISBN: 9780547070025

9th Edition

Authors: Jr. Belverd E. Needles, Marian Powers

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