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Derrick Wells decided to start a dental practice. The first five transactions for the business follow. 1. Derrick invested $72,000 cash in the business. 2.
Derrick Wells decided to start a dental practice. The first five transactions for the business follow. 1. Derrick invested $72,000 cash in the business. 2. Paid $12,000 in cash for equipment. 3. Performed services for cash amounting to $7,200. 4. Paid $2,000 in cash for advertising expense. 5. Paid $1,200 in cash for supplies. (1) Select which two accounts are affected in each of the above transactions. (2\&3) Post the above transactions into the appropriate T accounts. Complete this question by entering your answers in the tabs below. Select which two accounts are affected in each of the above transactions. Derrick Wells decided to start a dental practice. The first five transactions for the business follow. 1. Derrick invested $72,000 cash in the business. 2. Paid $12,000 in cash for equipment. 3. Performed services for cash amounting to $7,200. 4. Paid $2,000 in cash for advertising expense. 5. Paid $1,200 in cash for supplies. (1) Select which two accounts are affected in each of the above transactions. (2\&3) Post the above transactions into the appropriate T accounts. Complete this question by entering your answers in the tabs below. Post the above transactions into the appropriate T accounts. Advertising Expense \begin{tabular}{|l|l|l|l|} \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Bal. & 0 & & \\ \hline \end{tabular}
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