Derrick Wells decided to start a dental practice. The first five transactions for the business follow.

1. Derrick invested $81,000 cash in the business.
2. Paid $21,000 in cash for equipment.
3. Performed services for cash amounting to $8,100.
4. Paid $2,900 in cash for advertising expense.
5. Paid $2,100 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.

Post the above transactions into the appropriate T accounts.

Cash					Equipment
(1)					(1)
(2)
					Bal.	0
Bal.	0
Fees Income					Advertising Expense
(1)					(1)
Bal.	0				Bal.		0
Supplies					Derrick Wells, Capital
(1)					(1)
Bal.		0			Bal.	0