Julent Gradebook ORTON Downloadable eTextbook ment Exercise 3-07 (Part Level Submission) Selected transactions for Concord, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3 4. Issued stock to investors for $15,500 in cash. Purchased used car for $10,200 cash for use in business. Purchased supplies on account for $270. Billed customers $4,400 for services performed. Paid $180 cash for advertising at the start of the business. Received $1,850 cash from customers billed in transaction (4). Paid creditor $430 cash on account. Paid dividends of $530 cash to stockholders. 5. 6 7 8. Your answer is partially correct. Try again. For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the sp Service Revenue, etc.); whether the specific account is increased or decreased; and the normal balance of the specific a Account Debited Specific Account Cash Effect Normal Balance Debit Basic Type Stockholders' Equity No. Basic Type Increase 1. Asset Asset Debit 2 cise-02 3-05 (Part mission) 3-08 Your answer is partially correct. Try again For each transaction indicate the basic type of account debited and credited (the whole Service Revenue, etc.); whether the specific account is increase or decreased, and the romance of the dirt Account Debited No. Basic Type Specific Account Effect Normal Balance Basic 1. Asset Cash Increase Debit Send Equity 3-07 (Part smission 3-10 esults by 2. Decrease Deba Account Pie Liability Stockholders' Equity Asset 3. 4. 5 N 6. 7. e 0 a Type here to search 0 T R. ment > Open Assignment CALCIO (a) ENMENT URCIN ework 2 ief Exercise 3-02 xercise 3.05 (Part evel Submission) xercise 3.00 Exercise 3-07 (Part Level Submission Exercise 3-10 Your answer is partially correct. Try again. For each transaction indicate the basic type of account debited and credited (wwe, ability studers gut the side Service Revenue, etc.); whether the specific account is increased or decreased, and the normal bice of the predict Normal Balance Basic Type No. Effect Increase Basic Type 1. Asset Accounts Payable Advertising Expense Dividends Accounts Receivable Cash opment Service Revenue Supplies Debat Decrease 2 Liability view Score eview Results by Rudy Objective 100 5 6 7. $ a O O Type here to search (asset, liability, stockholders equity), ased; and the normal balance of the specific account. Effect Account Credited Specific Account Common Stock Normal Balance Credit Increase Normal Balance Debit Basic Type Stockholders' Equity Increase Credit Debit Asset Accounts Payable Service Revenue Accounts Receivable Dividends Advertising Expense E Supplies Equipment Cash 2 X EX 832 PM 9/4/2020 x
