1. Ronald Calhoun invested $52,000 cash in the business. 

2. Purchased office furniture for $15,200 in cash. 

3. Bought a fax machine for $870; payment is due in 30 days. 

4. Purchased a used car for the firm for $15,200 in cash. 

5 Calhoun invested an additional $11,800 cash in the business. 

6. Bought a new computer for $2,200; payment is due in 60 days Paid $870 to settle the amount owed on the fax machine. 

8. Calhoun withdrew $3,200 in cash for personal expenses. 

Analyze: Which transactions affected asset accounts? T accounts normally do not have any minus signs. Use minus signs in this problem to demonstrate your understanding of decreases to account balances

 

 

 

Complete this question by entering your answers in the tabs below. Transactions Analyze Post the following transactions into the appropriate T accounts. (Select the Debit account first, then the Credit account. Deductions to account balances should be indicated by a minus sign.) 1. Ronald Calhoun invested $52,000 cash in the business. 2. Purchased office furniture for $15,200 in cash. 3. Bought a fax machine for $870; payment is due in 30 days. 4. Purchased a used car for the firm for $15,200 in cash.