Accounting Cycle Tutorial Step 2: Analyze and Journalize Transactions > 0.00 > Analyze the Transactions Activity 2.b - Analyze the Transactions Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Refer to the Chart of Accounts for account titles. Purchase of building with note. Account 1 Account Type Increase/Decrease Debit/Credit Account 02 Account Type Increase/Decrease Debit/Credit Collected cash for future services Account an Account Type increase/Decrease Debit/Credit Account Type increase/Decrease Debit/Credit Barned by establishing a note receivable with a face value of $120.000. This note has no stated interest Enter the asset accounts first. soncmg.com/activity/2/2/2 Collected cash for future services Account #1 Account Type Increase/Decrease Debit/Credit Account N2 Account Type Increase/Decrease Debit/Credit Earned $90,000 by establishing a note receivable with a face value of $120,000. This note has no stated interest, Enter the asset accounts first. Accountan Account Type Increase/Decrease Debit/Credit 1 112 asset Increase Debit Account #2 Account Type Increase/Decrease Debit/Credit 105 asset Increase Credle Account as Account Type Increase/Decrease Debit/Credit I revenue croat CHECK ANSWER RESET incorrect. Try reviewing the Hint to better understand the goal of this activity Chart of Accounts Account Number 101 105 106 110 111 113 115 120 125 130 Account Title Cash Accounts Receivable Accounts Receivable - APA Interest Receivable Lease Receivable Notes Receivable Discount on Notes Receivable Interest Receivable Office Supplies Prepaid Insurance Prepaid Rent Short-term Investments Long-term Investments Inventory Inventory on Consignment Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Furniture Accumulated Depreciation - Furniture Office Furniture Accumulated Depreciation Office Furniture Truck Accumulated Depreciation - Truck Land 173 175 178 180 190 195 205 Land Land Held for Sale Construction in Progress Copyright Franchise Patent Pension Plan Assets Trademark Allowance for Doubtful Accounts Deferred Tax Asset Accounts Payable Rent Payable Salaries Payable Utilities Payable Interest Payable Dividends Payable Unearned Revenue Unearned Warranty Revenue Notes Payable Mortgages Payable Bonds Payable Premium on Bonds Payable Discount on Bonds Payable Accrued Liabilities Taxes Payable Tax Contingency Contingent Litigation Liability Legal Fees Payable Obligations Under Capital Lease Income Taxes Payable Dividends Payable Deferred Tax Liability Common Stock Common Stock - at par Contributed Capital Additional Paid in Capital Retainerlarning 251 250 255 260 261 262 265 270 275 276 285 280 285 290 295 305 306 310 311 Retained Earnings Dividends Income Summary Service Revenue Dividend Revenue Interest Revenue Merchandise Sales Revenue Sales Revenue Sales Discounts Sales Discounts Forfeited Warranty Revenue Gain on disposal of plant asset Gain from Sale of Discontinued Opertions Gain on Sale of Equipment Cost of Goods Sold Advertising Expense Delivery Expense Bad Debt Expense Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Legal Fees Expense Pension Expense Repairs and Maintenance Expense Rent Expense Salaries Expense Sales Commission Expense Selling Expense Supplies Expense Utilities Expense Loss on Land Held for Sale 512 515 516 535 540 545 547 548 550 555 560 565 LOSS on the sale of equipment 570 Impairment LOSS on Equipment Fm Disposal of 510 512 515 516 520 525 527 1530 535 Cost of Goods Sold Advertising Expense Delivery Expense Bad Debt Expense Depreciation Expense Income Tax Expense Insurance Expense Interest Expense Legal Fees Expense Pension Expense Repairs and Maintenance Expense Rent Expense Salaries Expense Sales Commission Expense Selling Expense Supplies Expense Utilities Expense Loss on Land Held for Sale Loss on the sale of equipment Impairment Loss on Equipment Loss from Disposal of Discontinued Segment Unrealized Holding Gain Unrealized Holding Loss 540 545 548 550 555 560 565 570 575 580 581