1.) fill in the blanks

a.)An account payable account has a balance of $5,500 at the end of june.

The following transactions took place in July:

Jul. 8 - Paid $1,000 of bills in accounts payabe in Cash.

Jul. 10 - Obtained a bank loan for $100,000.

Jul. 15 - Received a bill for $2,000 and still unpaid.

What is the normal balance for an Accounts Payable account, and what is the balance amount as of

the end of July?

Accounts Payable normal balance (debit/credit)

_________

Accounts payable balance at end of july _______

b.)Fill in the Blanks

At the end of January the Cash account had a $40,000 balance.

During February the below transactions occured:

Feb. 7 - Paid salaries of $2,000.

Feb. 8 - Obtained a bank loan of $100,000.

Feb. 15 - Paid office rent of $8,000.

Feb. 25 - Paid interest on bank loan of $1,000.

What is the normal balance for a Cash account, and what is the balance amount at the end of

February?

Cash account normal balance (debit or credit):

______

Cash balance at end of February ______