Pick one transaction from the Chapter 2 Serial Problem on pg. 94 & 95 and explain what accounts will be debited and what accounts will be credited. Make sure to identify the transaction and you cannot post the same transaction as another classmate. Make sure to use the chart of accounts . See the example below for the correct presentation. Correct classmates that are incorrect if needed. Remember your post must be made by Friday of the deadline week. Respond to your classmates by Sunday night at midnight of the deadline week.

SP2 transaction S. Rey invested $45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company.

My answer: Debit (increase) Cash $45,000; Debit (increase) Computer Equipment $20,000; Debit (increase) Office Equipment $8,000; Credit (increase) S. Rey, Capital $73,000.

Oct. 1 S. Rey invested S45,000 cash, a $20,000 computer system, and $8,000 of office equipment in the company. 2 The company paid $3,300 cash for four months' rent. (Hint: Debit Prepaid Rent for $3,300.) 3 The company purchased Si,420 of computer supplies on credit from Harris Office Products 5 The company paid S2,220 cash for one year's premium on a property and liability insurance policy. (Hint: Debit Prepaid Insurance for $2,220.) 6 The company billed Easy Leasing $4,800 for services performedin installing a new web server 8 The company paid si,420 cash for the computer supplies purchased from Harris Office Prod ucts on October 3 10 The company hired Lyn Addie as a part-time assistant for S125 per day, as needed 12 The company billed Easy Leasing another $1,400 for services performed. 15 The company received S4,800 cash from Easy Leasing as partial payment on its account. 17 The company paid S805 cash to repair computer equipment that was damaged when moving it 20 The company paid $1,728 cash for advertisements published in the local newspaper. 22 The company received Si,400 cash from Easy Leasing on its account. 28 The company billed IFM Company $5,208 for services performed. 31 The company paid $875 cash for Lyn Addie's wages for seven days' work. 31 S. Rey withdrew $3,600 cash from the company for personal use Nov. 1 The company reimbursed S. Rey in cash for business automobile mileage allowance (Rey logged 1,000 miles at $0.32 per mile) 2 The company received S4,633 cash from Liu Corporation for computer services performed. 5 The company purchased computer supplies for $1,125 cash from Harris Office Products 8 The company billed Gomez Co. $5,668 for services performed. 13 The company received notification from Alex's Engineering Co. that Business Solutions' bid of S3,950 for an upcoming project is accepted. 18 The company received $2,208 cash from IFM Company as partial payment of the October28 bill. 22 The company donated $250 cash to the United Way in the company's name