Question
Exercise 3.2 (Static) Using T accounts to analyze transactions. LO 3-2 Haden Fry decided to start a dental practice. The first five transactions for
Exercise 3.2 (Static) Using T accounts to analyze transactions. LO 3-2 Haden Fry decided to start a dental practice. The first five transactions for the business follow. 1. Haden invested $90,000 cash in the business. 2. Paid $30,000 in cash for equipment. 3. Performed services for cash amounting to $9,000. 4. Paid $3,800 in cash for advertising expense. 5. Paid $3,000 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.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Lets go through the journal entries for each transaction and then post them into the relevant TAccou...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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