1. Match each of the numbered transactions of a corporation with the appropriate letters, indicating the debits and credits to be made (give the debit first). The correct answer for transaction (1) is provided.

(1)	A shareholder purchased stock.	a, f
(2)	Paid rent for the current month
(3)	Received and immediately paid repair bill.
(4)	Purchased equipment on account.
(5)	Billed customers for services rendered.
(6)	Made partial payment for equipment purchased in transaction (4).
(7)	Collected amounts due from customers billed in transaction (5).
(8)	Borrowed money from bank, giving a note.
(9)	Paid cash dividends.
(10)	Paid employees salaries.

Effect of Transaction
a.	Debit an asset	g.	Debit dividends
b.	Credit an asset	h.	Credit dividends
c.	Debit a liability	i.	Debit revenue
d.	Credit a liability	j.	Credit revenue
e.	Debit common stock	k.	Debit expense
f.	Credit common stock	l.	Credit expense