E2-2 Selected transactions for M. Anderson, an interior decorator, in her fi rst month of business,

are as follows.

Jan. 2 Invested $10,000 cash in business.

3 Purchased used car for $4,000 cash for use in business.

9 Purchased supplies on account for $500.

11 Billed customers $2,100 for services performed.

16 Paid $350 cash for advertising.

20 Received $700 cash from customers billed on January 11.

23 Paid creditor $300 cash on balance owed.

28 Withdrew $1,000 cash for personal use by owner.

Instructions

For each transaction, indicate the following.

(a) The basic type of account debited and credited (asset, liability, owner