Selected transaction for Chris Talbot, an interior decorating firm, in its first month of business, are shown below:

Jan. 2 invested $15,00 cash in business in exchange for common stock.

3 Purchased car for $7,000 cash for use in the business.

9 Purchased supplies on account for $500.

11 Billed customers $1,800 for services performed.

16 Paid $200 cash for advertising.

20 Received $700 cash from customers billed on January 11.

23 Paid creditor $300 cash on balance owed.

28 Declared and paid a $1,000 cas dividend.

For each transaction indicate the following.

(a) The basic type of account debited and credited (asset, liability, stockholders' equity).

(b) The specific account debited and credited ( cash, rent expense, service revenue, ect.).

(c) Whether the specific account is increased or decreased.

(d) the normal balance of the specific account.

Use the folowing format, in which the January 2 transaction is given as an example,

Account Debited Account Credited

(a) (b) (c) (d) (a) (b) (c) (d)

Date Basic TypeSpecific Account Effect Normal Balance Basic Type Specific Account Effect Normal Bal

Jan. 2 Asset Cash Increase Debit Stockholders' Equity Common Stock Increase Credi