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Identify the impacted accounts, then whether they would decrease or increase, then whether it is a credit or debit. Account Debit Credit Cash $ 15,000
Identify the impacted accounts, then whether they would decrease or increase, then whether it is a credit or debit.
| Account | Debit | Credit | |
| Cash | $ 15,000 | ||
| Common Stock | $ 15,000 | ||
| Received cash in exchange for Common Stock issued | |||
| Inventory | $ 18,500 | ||
| Received cash in exchange for credit | $ 18,500 | ||
| Cash | Merchandise | $ 555 | |
| Revenue for sold merchandise to customer | $ 555 | ||
| Inventory Payment | $ 37,000 | ||
| Partial payment to supplier for Inventory | $ 3,700 | ||
| Land | Cash | $ 20,000 | |
| Cash purchase for Land | $ 20,000 | ||
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