Exercise 3.2 (Algo) Using T accounts to analyze transactions. LO 3-2 Derrick Wells decided to start a dental practice. The first five transactions for the business follow. Derrick invested $84,000 cash in the business. Paid $24,000 in cash for equipment. Performed services for cash amounting to $8,400. Paid $3,200 in cash for advertising expense. Paid $2,400 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					Supplies
not attempted	not attempted	not attempted	not attempted		not attempted	not attempted	not attempted	not attempted
not attempted	not attempted	not attempted	not attempted		not attempted	not attempted	not attempted	not attempted
not attempted	not attempted	not attempted	not attempted		not attempted	not attempted	not attempted	not attempted
not attempted	not attempted	not attempted	not attempted		Bal.	0
Bal.	0
Equipment					Haden Fry, Capital
not attempted	not attempted	not attempted	not attempted		not attempted	not attempted	not attempted	not attempted
not attempted	not attempted	not attempted	not attempted		not attempted	not attempted	not attempted	not attempted
not attempted	not attempted	not attempted	not attempted		not attempted	not attempted	not attempted	not attempted
Bal.	0				Bal.		0
Fees Income					Advertising Expense
not attempted	not attempted	not attempted	not attempted		not attempted	not attempted	not attempted	not attempted
not attempted	not attempted	not attempted	not attempted		not attempted	not attempted	not attempted	not attempted
not attempted	not attempted	not attempted	not attempted		not attempted	not attempted	not attempted	not attempted
Bal.		0			Bal.	0