I need help finding the 5 account types with the following dollar amounts, the account has the option between cash, accounts receivable, inventory, prepaid rent, fixtures and equipment, accounts payable, interest payable, wages payable, note payable, paid-in capital, retained earnings and leave blank. Please help with transaction 1, 4 and 5.
The first picture is the specific instructions
Transaction 1 On March 1, the three classmates opened a checking account for The Wire at a local bank. They each deposited $25,000 in exchange for shares of stock. A few of their friends also purchased stock totaling $12,000 that was deposited in The Wire account. Account: a Dollar amount: |:| Account: a Dollar amount: |:| Account: a Dollar amount: |:| Account: a Dollar amount: |:| Account: a Dollar amount: |:| Submit Answer Tries 0,15 Transaction 4 The owners paid $3,500 for website advertising. They were able to get a good deal because one of the company's owners also owns stock In the website company. The owners also paid $5,000 for some advertising in local newspapers. [Note: Combine both transactions into one entry]. Account: a Dollar amount: :| Account: 3 Dollar amount: :| Account: a Dollar amount: :| Account: a Dollar amount: :| Account: a Dollar amount: :| Submit Answer Tries 0f5 Transaction 5 Sales were $615,000. Cost of merchandise sold was 50% of its sales price. 70% of the sales were on open account. [Hota: Record the complete entry for the sales rst and the complete entry for the expenses second] Account: a Dollar amount: |: Account: a Dollar amount: |: Account: a Dollar amount: |: Account: a Dollar amount: |: Account: a Dollar amount: |: Account: a Dollar amount: |: Submit Answer Trles {H5 Three former college classmates decided to open a store near campus to sell wireless equipment to students. They created a public company, The Wire, and issued stock to interested investors. They plan on creating monthly nancial statements. Required: Several transactions occurred in March. Each is described separately in this folder. For each transaction, indicate the accounts for The Wire that are affected, whether they increase or decrease, and the amount of the increase or decrease. YOU MUST FOLLOW THE INSTRUCTIONS BELOW. IF YOU DON'T, YOU MAY KNOW THE CORRECT ENTRY BUT THE COMPUTER WILL NOT RECOGNIIE IT AND WILL NOT GIVE YOU CREDIT. 1. After each transaction description, there are several "Account" submission boxes and corresponding "Amount" submission boxes. To indicate the aooounts that you think are affected, choose them from the drop-down menu. But you MUST select them in the order that they are listed in the menu. FOR EKAMPLE, if you think that Cash and Inventory are affected by a particular transaction, you must reoord the effect on the Cash account rst and the effect on the Inventory account second, since that is the order in which they are listed in the dropdown menu. If you record the Inventory effect first and the Cash effect second, even if they are the correct accounts with the oorrect dollar amounts, your answer will be considered wrong. 2. When you record the dollar amounts, be sure to use a minus sign to indicate a decrease in the account. You don't need to use a plus sign to indicate an increase. Also, don't use a dollar sign or spaoes. 3. There are always more "Amount" and "Amount" submission boxes available than are necessary. When you have indicated all the aooounts that are affected by the transaction, select "Leave Blank" from the dropdown menu for EACH of the remaining "Account" submission boxes [you can leave the "ltmount'1 boxes blank}. 4. For transactions 3, 4, 5, and 8, you are given additional instructions. Read them carefully. 5. You get 5 tries for each complete entry. 6. The entries for transaction #8 is worth 4 points. The entries for each of the other transactions are worth 2 points
