For each of the following accounts, indicate the effects of a debit and a credit on the accounts and the normal balance of the account. Debit Effect Credit Effect Normal Balance 1. Accounts Payable 2. Advertising Expense 3. Service Revenue 4. Accounts Receivable 5. Owner's Capital 6. Owner's Drawings Click If you would like to Show Work for this question: Open Show Work June 1 Transactions for the Oleg Thorn Company for the month of June are presented below. Oleg Thorn invests $5,000 cash in a small welding business of which he is the sole proprietor. 2 Purchases equipment on account for $3,600. 3 $800 cash is paid to landlord for June rent. 12 Sends a bill to K. Johnsen for $400 after completing welding work done on account. Identify the accounts to be debited and credited for each transaction. Account Debited Account Credited June 1 2 3 12 Transactions for the Oleg Thorn Company for the month of June are presented below. June 1 Oleg Thorn Invests $5,000 cash in a small welding business of which he is the sole proprietor. 2 Purchases equipment on account for $3,600. 3 $800 cash is paid to landlord for June rent. 12 Sends a bill to K. Johnsen for $400 after completing welding work done on account. Journalize the transactions. (Credit account titles are automatically indented when amount is entered. Do not Indent manually. Record presented in the problem. If no entry is required, select "No Entry" for the account tities and enter o for the amounts.) Account Titles and Explanation Credit Date Debit v Shea Jonas, a fellow student, is unclear about the basic steps in the recording process. Identify the steps in the order in which they occur. 1. 2. 3. Brief Exercise 2-05 M. Gonzales has the following transactions during August of the current year. Indicate the effect on the accounting equation and the debit-credit analysis Aug. 1 Opens an office as a financial advisor, investing $9,000 in cash. Pays Insurance in advance for 6 months, $2,100 cash. 16 Recelves $3,600 from clients for services performed. 27 Pays secretary $1,000 salary. 4 Effect on Accounting Equation Debit-Credit Analysis Aug. 1 The asset Debits Debit the owner's equity account Credits Credit Aug. 4 Debits The asset Debit Credits the asset Credit CALCULATOR PRINTER VERSION 4 BACK NEXT Credit Aug. 4 Debits The asset Debit the asset Credits Credit Aug. 16 Debits The asset Debit Credits the revenue Credit Debits Aug. 27 The expense Debit Credits the asset Credit Click If you would like to Show Work for this questionton Show Work Brief Exercise 2-06 M. Bonzales has the following transactions during August of the current year. 4 Aug. 1 Opens an office as a financial advisor, investing $9,000 in cash. Pays insurance in advance for 6 months, $2,100 cash. 16 Receives $3,600 from clients for services performed. 27 Pays secretary $1,000 salary. Journalize the transactions. (Credit account titles are automatically Indented when amount is en presented in the problem. If no entry is required, select "No Entry" for the account titles and Date Account Titles and Explanation Debit Credit