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Record the following transactions as journal entries. Collected $9,000 cash for services Date Accounts and Explanation Debit Debit Credit Nov. 3 Paid $5,000 for repairs
Record the following transactions as journal entries. Collected $9,000 cash for services Date Accounts and Explanation Debit Debit Credit Nov. 3 Paid $5,000 for repairs to the company truck Date Accounts and Explanation Debit Credit Nov. 4 Purchase a $6,000 building with note Date Accounts and Explanation Debit Credit Nov.5 Bright, the owner, invested $6,000 in the business in exchange for capital. Date Accounts and Explanation Debit Credit Nov.5 Bright, the owner, contributed $8,000 in exchange for capital. Date Accounts and Explanation Debit Credit Nov.5 Review the transactions and determine the accounts, the account types (use assets; liabilities, owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Bought a company truck by signing a note at the bank a Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Bright, the owner, contributed cash in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid for repairs to the company truck Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid for advertising in the local paper Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Bright, the owner, contributed furniture in exchange for capital. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit
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