Normal Balance of Account

Indicate the normal balance (debit or credit) for each of the following accounts:

Account	Debit or Credit
1. Cash	CreditDebit
2. Wages Expense	CreditDebit
3. Accounts Payable	CreditDebit
4. Owner's Drawing	CreditDebit
5. Supplies	CreditDebit
6. Owner's Capital	CreditDebit
7. Equipment	CreditDebit

Transaction Analysis Sheryl Hansen started a business on May 1, 20--, Analyze the following transactions for the first month of business using T accounts. Label each T account with the title of the account affected and then place the transaction letter and the dollar amount on the debit or credit side. a. Invested cash in the business, $5,100. b. Bought equipment for cash, $500. c. Bought equipment on account, $800. d. Paid cash on account for equipment purchased in transaction (c), $300. e. Withdrew cash for personal use, $700. Cash Equipment Accounts Payable Sheryl Hansen, Capital Sheryl Hansen, Drawing