PROBLEM 3-1 Analyzing transactions into debit and credit parts Joan Weber owns a business called Lawns Plus. Lawns Plus uses the following accounts: Cash Joan Weber, Drawing Accounts Receivable-Central Properties Sales Accounts Receivable-Clifton Care Center Advertising Expense Supplies Miscellaneous Expense Prepaid Insurance Rent Expense Accounts PayableDavis Office Supplies Repair Expense Accounts Payable-Huff Supplies Utilities Expense Joan Weber, Capital Instructions: Use the forms given in the Extra Problems Working Papers. 1. Prepare a T account for each account. 2. Analyze each transaction into its debit and credit parts. Write the debit and credit amounts in the proper Taccounts to show how each transaction changes account balances. Write the date of the transaction in parentheses before each amount. Transactions: June 1. Joan Weber invested $8,000.00 cash in the business. 2. Bought supplies and paid $120.00 cash. 3. Paid cash for rent, $400.00. 4. Sold services for cash, $ 800.00. 5. Had mower repaired for $50.00 cash. 8. Performed $500.00 of services for Central Properties on account. 9. Bought supplies from Huff Supplies for $1,000.00 on account. 10. Paid insurance bill, $ 200.00 cash. 11. Joan Weber invested an additional $1,000.00 in the business. 12. Received 600.00 cash from sales. 13. Bought supplies on account from Davis Office Supplies, $100.00 14. Central Properties paid $ 250.00 on account. 15. Paid $10.00 for a miscellaneous expense. 16. Paid Huff Supplies $ 100.00 on account. 22 Paid the electric bill, $70.00. 23. Ran an ad in the paper for $60.00. 25. Sold services on account to Clifton Care Center, $400.00. Joan Weber withdrew $1,200.00 for her personal use. 30. Received cash on account from Clifton Care Center, $200.00. 26 Extra Problems 3