Question 1 (10 marks)

Selected transactions for Bakar Enterprise, an interior decorator, are as follows:

March

2 Invested RM15,000 cash in business.

3 Purchased used car for RM4,000 cash for use in business.

9 Purchased supplies from Ah Meng for RM500.

11 Billed customer RM1,800 for services performed.

16 Paid RM200 cash for advertising.

20 Received RM700 cash from customers billed on 11 March.

23 Paid Ah Meng RM400 cash on balanced owed.

28 Paid RM1,500 cash salary to administrative assistant.

29 Withdrew RM2,000 cash for personal use.

For each transaction, indicate the following:

a) The basic type of accounts (asset, liability, owners equity, revenue, expenses)

b) The specific account to be debited or credited.

c) Whether the specific account is increased or decreased.

d) Accounts to be debited and credited.