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Steve Russell started a snow removal and landscaping business he called Total Care Services. Selected transactions for Total Care Services are listed below. 1. 2. 3. 4. 5. 6. 7. 8. Steve transfers his used pickup truck valued at $ 3,360 into the business. Steve invested $3,430 cash in the business and opened a bank account in the name of Total Care Services. Purchased a used snow plow from a dealer for $ 1,480 paying half as a down payment and half on account Plowed the parking lot of a local mall and billed the mall management company $ 885. Paid for fuel for the truck $ 120. Plowed three neighbours' driveways and immediately got paid $ 50 each. Collected in full the invoice billed to the mall management company. Paid balance owing on the purchase of the snow plow. Purchased a new lawn mower for $ 870, paying 10% down in cash, the remainder on account. Paid for business cell phone charges of $ 35. Purchased $ 305 of lawn maintenance supplies for cash Billed customers $ 1,560 for lawn maintenance services completed Paid balance owing on lawn mower. Collected $ 735 from customers for services previously billed, Steve withdrew $ 1,080 cash for personal use. Provided lawn maintenance services totalling $ 1,380 for several clients .one client whose bill is $ 290 pays cash, the remainder are on account. 9. 10. 11. 12 13 14. 15. 16. For each transaction indicate: a. The basic type of account debited and credited (asset, liability, owner's equity) The specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.) b. c. By how much each account is increased or decreased. Account Debited a. b. c. Trans. Basic Type Specific Account Effect on Account 1. $ 2. . 3 . : 4. 5. 6. 7. 8. 9. 10. 11. 12. 12 Account Credited C. a. b. c. ton Account Basic Type Specific Account Effect on Account 4 $ . +