Below are recorded transactions of Yellow Jacket Corporation for August. Transaction General Journal Debit Credit 1. Equipment 8,800 Cash 8,800 2. Accounts Receivable 3,200 Service Revenue 3,200 3. Salaries Expense 1,900 Cash 1,900 4. Cash 1,500 Deferred Revenue 1,500 5. Dividends 900 Cash 900 Required: From the table below select the most appropriate explanation for each transaction.

Below are recorded transactions of Yellow Jacket Corporation for August. Required: From the table below select the most appropriate explanation for each transaction