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Selected transactions for M. Acosta, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $10,000 cash in business. 3
Selected transactions for M. Acosta, 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 $3,000 cash for use in business. | |
9 | Purchased supplies on account for $600. | |
11 | Billed customers $2,400 for services performed. | |
16 | Paid $350 cash for advertising. | |
20 | Received $900 cash from customers billed on January 11. | |
23 | Paid creditor $300 cash on balance owed. | |
28 | Withdrew $1,000 cash for personal use by owner. |
For each transaction, indicate the following. January 2 transaction is given as an example.
(a) | The basic type of account debited and credited. | |
(b) | The specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.). | |
(c) | Whether the specific account is increased or decreased. | |
(d) | The normal balance of the specific account. |
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