Dashboard X Bb Review Submission History: WIP X Mail - on.duquene.miarlynn - Qu x | G what does transpose mean - Goc x + X C https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?content_id=_6645275_1&course_id=_92413_1&group_i... A + G Question 2: In a double entry accounting system, each transaction affects at least two different accounts. For the following transactions identify the two accounts and what type of account is each, asset, liability, equity, revenue, or expense. (46 points, 1 point per answer) OK Start Now 1. On August 1, Debbie, the owner invested $40,500 cash into the company. Name of Accounts Affected: Type of Account: Cash Asset Owner capital Equity 2. On August 2 purchased $5,000 worth of merchandise terms 2/10, n/30, FOB shipping point. 100 items of BAC at a cost of $50 each. Merchandise inventory Name of Accounts Affected: Type of Account: Merchandise Expense Credit terms means on account 3. On August 3 returned 8 items of BAC at a cost of $50 each because they were defective and received a credit to our account. ACCT110 - Accounting Name of Accounts Affected: Type of Account: 4. On August 5 paid the shipping cost of $100. Only two accounts Name of Accounts Affected: Type of Account: Shipping expense Expense wiles witmurawal Cash Asset 5. On August 6 sold 10 BACs for a total selling price of $1000 that had a cost of $500 terms 2/10/, EOM. What about inventory? 49 F a W X 2:19 AM Clear 10/21/2022 1Dashboard X Bb Review Submission History: W1P X Mail - on.duquene.miarlynn - Qu x | G what does transpose mean - Goc X + X G https://mybsc.bryantstratton.edu/webapps/assignment/uploadAssignment?content_id=_6645275_1&course_id=_92413_1&group_i... A @ to G on your submission. You have two more attempts on this 5. On August 6 sold 10 BACs for a total selling price of $1000 that had a cost of $500 terms 2/10/, EOM. assignment. You may resubmit. If you have further What about inventory? Name of Accounts Affected: Type of Account: questions, please reach out. anactor store Sales Revenue Asset Acct Receivable OK Start Now 6. On August 8 customer returned two BACs worth $200 that had a cost of $100, they were damaged and not returned to inventory. Only two accounts Name of Accounts Affected: Type of Account: Ded Sales returns and allowancenue Acct receivable Asset 7. On August 10 we paid our bill within the discount period, less the return. Name of Accounts Affected: Type of Account: want for the sale period? Masset? asset Paid means cash, within the discount period relates to inventory 8. On August 11 the customer paid their bill within the discount period less the return to us. Name of Accounts Affected: Type of Account: Asset Revenue Acctable Paid means cash and sales discount ACCT110- Accounting 49 F 2:19 AM Clear O a W X 10/21/2022 1