rent Attempt in Progress elected transactions for Concord, an interior decorator corporation, in its first month of business, are as follov 1. Issued stock to investors for $15,500 in cash. 2. Purchased used car for $10.200 cash for use in business. 3. Purchased supplies on account for $270. 4. Billed customers $4,400 for services performed. 5. Paid $180 cash for advertising at the start of the business. Received $1,850 cash from customers billed in transaction (4), 6. 7 Paid creditor $430 cash on account. 8. Paid dividends of $530 cash to stockholders. Effect Basic Type Specific Account Increase C olders' Equity Common Stock Decrease et Sility Equipment Increase Accounts Payable Supplies Ockholders' Equity Increase Cash Service Revenue sset Decrease Advertising Expense Accounts Receivable sset Decrease Dividends Asset Decrease C Asset Decrease D O RI rent Attempt in Progress elected transactions for Concord, an interior decorator corporation, in its first month of business, are as follov 1. Issued stock to investors for $15,500 in cash. 2. Purchased used car for $10.200 cash for use in business. 3. Purchased supplies on account for $270. 4. Billed customers $4,400 for services performed. 5. Paid $180 cash for advertising at the start of the business. Received $1,850 cash from customers billed in transaction (4), 6. 7 Paid creditor $430 cash on account. 8. Paid dividends of $530 cash to stockholders. Effect Basic Type Specific Account Increase C olders' Equity Common Stock Decrease et Sility Equipment Increase Accounts Payable Supplies Ockholders' Equity Increase Cash Service Revenue sset Decrease Advertising Expense Accounts Receivable sset Decrease Dividends Asset Decrease C Asset Decrease D O RI