The following transactions took place at Calhoun Counseling Services, a business established by Ronald Calhoun. Post the following transactions into the appropriate T accounts 1. Ronald Calhoun invested $35,000 cash in the business. 2. Purchased office furniture for $8,500 in cash 3. Bought a fax machine for $525, payment is due in 30 days 4. Purchased a used car for the firm for $8,500 in cash 5. Calhoun invested an additional $5,500 cash in the business 6. Bought a new computer for $2,000, payment is due in 60 days. 7. Paid $525 to settle the amount owed on the fax machine 8. Calhoun withdrew $2,500 in cash for personal expenses. Analyze: Which transactions affected asset accounts? T accounts normally do not have any minus signs. Use minus signs in this problem to demonstrate your understanding of decreases to account balances. Complete this question by entering your answers in the tabs below. Analyze Prev 2 of 5 Next