3 of 5 < View Policies Current Attempt in Progress Selected transactions for Ayayai, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $13,000 in cash. 2. Purchased used car for $10,000 cash for use in business. 3. Purchased supplies on account for $200. 4. Billed customers $3,700 for services performed. 5. Paid $100 cash for advertising at the start of the business. 6. Received $1,100 cash from customers billed in transaction (4). 7. Paid creditor $150 cash on account. 8. Paid dividends of $300 cash to stockholders. -/10 E Question 3 of 5 < > -/10 E For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); whether the specific account is increased or decreased; and the normal balance of the specific account. Account Debited No. Basic Type Specific Account Effect Normal Balance Basic Type 1. Asset Cash Increase Debit Stockholders' Equity 2. 4. > > Question 3 of 5 < > -/10 E For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); whether the specific account is increased or decreased; and the normal balance of the specific account. Account Credited Effect Normal Balance Basic Type Specific Account Effect Normal Balance ise Debit Stockholders' Equity Common Stock Increase Credit Question 3 of 5 < 1. Asset 2. 3. A. 6. 7. Cash Increase Debit > -/10 E Stockholders' Equity 4