A D G 7 Wunderkind Photography entered into the following transactions during February 2019. 8 1. Stockholders invested $5,000 in the business. 9 10 11 12 13 14 15 16 17 18 19 20 21 Instructions: 25 26 27 28 29 30 31 32 22 For each transaction indicate the following: 23 24 33 34 35 36 37 38 39 40 41 2. 3. 42 43 Bought photography equipment for a cash payment of $1,000. Bought more photography equipment by signing a $500 note payable. 4. Performed photography services for $400 cash. 5. Performed photography services, and billed the customer $900 on account. 6. Collected $900 from the customer in item 5. 7. Paid for February developing and printing, $150. 8. Advertised the business in the Platteville Journal. The $100 cost will be billed to Wunderkind. 9. Paid the advertising bill from item 8. 10. Paid $200 for photography supplies. 11. Received $300 cash advance payment from a customer for a photography job to be performed in April 12. Paid $250 dividends to the stockholders. No. 1 (a) The basic type of account debited and credited (asset, liability, stockholder's equity). (b) The specific account debited and credited (cash, rent expense, service revenue, etc.). (c) Whether the specific account is increased or decreased. (d) The normal balance of each specific account. 2 3 4 5 6 7 B 8 9 10 11. (a) Basic Type F Asset Account Debited (b) Specific Account Cash (C) Effect Increase H Wunderkind Photography entered into the following transactions during February 2019. I (d) Normal Balance Debit J K (a) Basic Type Stockholders' Equity L M Account Credited (b) Specific Account Common Stock N 0 (C) Effect Increase P Q (d) Normal Balance Credit