Question
Selected transactions for D. Reyes. an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3
Selected transactions for D. Reyes. an interior decorator, in her first month of business, are as follows.
Jan. 2 Invested $10,000 cash in business.
3 Purchased used car for $4,000 cash for use in business.
9 Purchased supplies on account for $500.
11 Billed customers 51,800 for services performed.
16 Paid 5200 cash for advertising.
20 Received $700 cash from customers billed on January 11.
23 Paid creditor S300 cash on balance owed.
28 Withdrew $1,000 cash for personal use by owner.
Instructions:
For each transaction, indicate the following.
The .specific account debited and credited (cash, rent expense, service revenue, etc.).
The basic type of account (revenue, expense, asset, liability, owner's equity).
3 Whether the normal balance is debited or credited .
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