1. Issued stock to investors for $15,000 in cash. 2. Purchased used car for $10,000 cash for use in business. 3. Purchased supplies on account for $300. 4. Billed customers $3,700 for services performed. 5. Paid $200 cash for advertising at the start of the business. 6. Received $1,100 cash from customers billed in transaction (4) 7. Paid creditor $300 cash on account. 8. Paid dividends of $400 cash to stockholders. Account Debited Account Credited Basic Type Specific Account Effect Normal Balance Basic Type Specific Account Effect Norma Balanc Asset Cash Increase Debit Stockholders' Equity Common Stock Increase Credit Asset Cash . Decrease : Debit Labuty Advertising Expense . Asset + Supplies Increase Detit Asset e Cach . Decrease Credit