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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
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. 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. Complete this question by entering your answers in the tabs below. Post the above transactions into the appropriate T accounts. Cash Supplies Bal. Bal. 0 Equipment Haden Fry, Capital Bal. Bal. 0 Fees Income Advertising Expense (1) Bal. Bal. 0
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