4:04 PM Tue Jan 4 T-ACCTS FOLLOW THE DEBIT/CREDIT RULES STAY OUT OF THE BLUE AREAS!: 0 202-BASIC-DR-CR.xlsx 1. Max Daly invested $20,000 in the business, Daly Accounting. ASSET ASSET LIAB LIAB OE OE 2. Daly paid rent in the amount of $2,500 cash. 101 CASH 201 ACCTS PAYABLE 302 DALY DRAWING 301 DALY CAPITAL 0 0 0 0 0 0 0 0 0 104 ACCTS RECEIV 0 OPERATIONS 501 RENT EXPENSE 40 SERVICE REVENUE 0 2012 NOTES PAYABLE 0 0 0 106 SUPPLIES 0 0 110 EQUIPMENT 0 503 ADVERT. EXPENSE 0 510 SUPPLIES EXPENSE 3. Daly borrowed $10,000 cash from Bank of America, signing a note payable. 4. Daly purchased $3,000 of supplies on account. 5. Daly provided services to customers on account, $4,000. 6. Advertising was purchased on account, $1,000. 7. Equipment was purchased, $9,000. A cash down payment of $2,000 was paid, and a note payable was signed in the amount of $7,000. 8. Daly withdrew $1,500 cash from the business for personal use. 9. Cash was collected from customers on account, $2,500. 10. At the end of the month the supplies remaining were $1,800, so the supplies used up were $1,200. TRIAL BALANCE 101 CASII 104 ACCTS RECEIVABI 106 SUPPLIES DEBIT CREDIT 110 EQUIPMENT 201 ACCTS PAYABLE 202 NOTES PAYABLE 301 DALY CAPITAL 302 DALY DRAWING 401 SERVICE REVENUE 501 RENT EXPENSE 503 ADVERT. EXPENSE 510 SUPPLIES EXPENSI TOTALS In Balance? DR-CR? 9 Dashboard Calendar To Do 0 0 YES D Notifications 4% Inbox