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Please solve this problem, Issued stock to investors for $15,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on
Please solve this problem,
Issued stock to investors for $15,000 in cash. Purchased used car for $10,000 cash for use in business. Purchased supplies on account for $300. Billed customers $3,700 for services performed. Paid $200 cash for advertising start of the business. Received $1,100 cash from customers billed in transaction (4). Paid creditor $300 cash on account. Paid dividends of $400 cash to stockholders. For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); whether the specific account is increased or decreased; and the normal balance of the specific accountStep by Step Solution
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