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DUUN Transactions Arrowhead Delivery Service is owned and operated by Getes Deeter. The following selected transactions were completed by Arrowhead Delivery Service during August Indicate
DUUN Transactions Arrowhead Delivery Service is owned and operated by Getes Deeter. The following selected transactions were completed by Arrowhead Delivery Service during August Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owner's Equity, Drawing, Revenue, and Expense). Also Indicate the specific item within the accounting equation element that is affected. To ilustrate the answer to (1) follows: (1) Asset (Coth) increases by $25,000; Owner's Equity (Gates Deeter, Capital) increases by $25,000 Item 1. Received cash from owner as additional Investment, $25,000 Increases Element Direction Asset Cash Owner's Equity Gates Deeter, Capital Increases 2. Pald creditors on account, $3,750. billed customers for delivery services on account, $22,400 4. Received cash from customers on account, $11,300 5. Pald cash to owner for personal use, $6,000
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