Selected transactions for Ayayai, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. Issued stock to investors for $16,500 in cash. Purchased used car for $10,200 cash for use in business. Purchased supplies on account for $250. Billed customers $3,790 for services performed. Paid $130 cash for advertising at the start of the business. Received $1,770 cash from customers billed in transaction (4). Paid creditor $220 cash on account. Paid dividends of $320 cash to stockholders. 5. 6. 7. 8. Chapter 3 Homework # 1 - Due Tuesday, September 7 @ 10 pm Eastern Question 3 of 5 -/1 E Account Debited No. Basic Type Specific Account Effect Normal Balance Basic Type 1. Asset Cash Increase Debit Stockholders' Equity 2 3 5 S 6 7 - / 1 III TOP CLOU. Account Credited Basic Type Specific Account Effect Normal Balance Stockholders' Equity Common Stock Increase Credit C >