Selected transactions forFlounder, an interior decorator corporation, in its first month of business, are as follows.

1.Issued stock to investors for $16,600in cash.2.Purchased used car for $10,700cash for use in business.3.Purchased supplies on account for $200.4.Billed customers $4,860for services performed.5.Paid $290cash for advertising at the start of the business.6.Received $1,570cash from customers billed in transaction (4).7.Paid creditor $410cash on account.8.Paid dividends of $350cash to stockholders.

For each transaction indicate the basic type of account debited and credited (asset, liability, 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

Account Credited

No.

Basic Type

Specific Account

Effect

Normal Balance

Basic Type

Specific Account

Effect

Normal Balance

1.AssetCashIncreaseDebitStockholders' EquityCommon StockIncreaseCredit2.choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Equipment

Supplies

Accounts Receivable

Advertising Expense

Accounts Payable

Dividends

Service Revenue

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Service Revenue

Accounts Receivable

Accounts Payable

Advertising Expense

Supplies

Equipment

Dividends

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

3.choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Equipment

Supplies

Accounts Receivable

Advertising Expense

Accounts Payable

Dividends

Service Revenue

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Service Revenue

Accounts Receivable

Accounts Payable

Advertising Expense

Supplies

Equipment

Dividends

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

4.choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Equipment

Supplies

Accounts Receivable

Advertising Expense

Accounts Payable

Dividends

Service Revenue

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Service Revenue

Accounts Receivable

Accounts Payable

Advertising Expense

Supplies

Equipment

Dividends

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

5.choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Equipment

Supplies

Accounts Receivable

Advertising Expense

Accounts Payable

Dividends

Service Revenue

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Service Revenue

Accounts Receivable

Accounts Payable

Advertising Expense

Supplies

Equipment

Dividends

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

6.choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Equipment

Supplies

Accounts Receivable

Advertising Expense

Accounts Payable

Dividends

Service Revenue

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Service Revenue

Accounts Receivable

Accounts Payable

Advertising Expense

Supplies

Equipment

Dividends

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

7.choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Equipment

Supplies

Accounts Receivable

Advertising Expense

Accounts Payable

Dividends

Service Revenue

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Service Revenue

Accounts Receivable

Accounts Payable

Advertising Expense

Supplies

Equipment

Dividends

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

8.choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Equipment

Supplies

Accounts Receivable

Advertising Expense

Accounts Payable

Dividends

Service Revenue

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

choose a basic type

Asset

Stockholders' Equity

Liability

choose a specific account

Cash

Service Revenue

Accounts Receivable

Accounts Payable

Advertising Expense

Supplies

Equipment

Dividends

select between increase and decrease

Increase

Decrease

select between debit and credit

Debit

Credit

eTextbook and Media

List of Accounts

Journalize the transactions.(If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)