ASSETS INCREASE: DEBIT DECREASE: CREDIT LIABILITIES INCREASE CREDIT DECREASE: DEBIT OWNER'S EQUITY INCREASE: CREDIT DECREASE: DEBIT DR CR TRANSACTIONS-ANALYZE EACH ONE AND INSERT THE ENTRIES. 5 101 CASH 201 ACCTS PAYABLE 302 GRANT DRAWING 301 GRANT CAPITAL 1 Jane Grant invested $70.000 cash in the busines, Grant Consulting 7 2 Grant paid rent on an office $1,GCO in cash 9 10 3 Grant borrowed $10,000 cash from Bank of America, signing a nate payable. 11 202 NOTES PAYABLE 101 CASH 104 ACCTS RECEIVABLE 106 SUPPLIES 110 EQUIPMENT 112 ACC. DEPR. EQUIP. 201 ACCTS PAYABLE 202 NOTES PAYABLE 301 Grant CAPITAL 302 Grant DRAWING 401 SERVICE REVENUE 501 RENT EXPENSE 503 ADVERT. EXPENSE 509 DEPR. EXPENSE 510 SUPPLIES EXPENSE TOTALS In Balance? DRECR? 4 Grant purchased $200 of advertising from the scattle Times. The advertising fee will be paid to the Seattle Times in 30 days 12 13 14 15 104 ACCTS RECEIVABLE OPERATIONS 501 RENT EXPENSE 401 SERVICE REVENUE 5 Grant purchased supplies an account in the amount of $5,500. 16 6 Grant purchased equipment for $20,000. Grant paid $4,000 and the rest will be paid in 30 days. 106 SUPPLILS 0 0 YES 503 ADVERT. EXPENSE 7 Grant provided services to customers on account. $12.000. 8 Accourts Peable were paid off, in the amount of $2,000, 17 18 19 20 21 22 23 24 25 26 27 28 29 110 EQUIPMENT 9 Cash was received from clscomes an account, 3,000. 509 DEPR. EXPENSE 10 Grant withdrew cash from the busiress, $2,900, to take her children to Disneyland. 112 ACC. DEPR. EQUIP 11 At the end of the monthth, Granit counte: the supplies. There were $1,700 of supplies remaining. This means that $3,800 of supplies have been used 30 510 SUPPLIES EXPENSE 13 Depreciation was recorced on the equipment, $400. 32 33 34 35 36 37 38