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Selected transactions for Ayayai, an interior decorator corporation in its first month of business, are as follows. 1. Issued stock to investors for $16,500 in

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Selected transactions for Ayayai, an interior decorator corporation in its first month of business, are as follows. 1. Issued stock to investors for $16,500 in cash. 2. Purchased used car for $10,200 cash for use in business. 3 Purchased supplies on account for $250. 4. Billed customers $3,790 for services performed. 5. Paid $130 cash for advertising at the start of the business. 6. Received $1.770 cash from customers billed in transaction (4). 7. 7 Paid creditor $220 cash on account. 8. Paid dividends of $320 cash to stockholders. For each transaction indicate the basic type of account debited and credited (asset, ability, stockholders equity: the specific account debited and credited (Cash Rent Expense, Service Revenue, etc.); whether the specific account is increased or decreased, and the normal balance of the specific account Account Debited Normal No. Basic Type Specific Account Effect Basic Type Balance 1 Asset Cash Increase Debit Stockholders Equi 2 3 > 4. 4. > > 5. >

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