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Tropical Co. has been in business for several years. Listed below are numerous transactions in 2021 for Tropical Co. Following the transactions, selected accounts are

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Tropical Co. has been in business for several years. Listed below are numerous transactions in 2021 for Tropical Co. Following the transactions, selected accounts are shown in alphabetical order. Required: Using the accounts shown at the end of the transactions, drag and drop the account to be debited and the account to be credited for Tropical Co.'s transactions. Ignore dollar amounts in your answer. CREDIT Cash DEBIT Example Tropical Co. paid $5,000 for this month's Rent expense rent. 1 The company issued common shares for $100,000 2 The company took out a $50,000 bank loan. Bank Loan Payable Cash Cash 3 Equipment Purchased $25,000 in merchandise for cash. 4 Bought $3,000 of supplies on credit 5 Cash sales to customers were $20,000 Cash Inventory 6 The cost of the inventory that was sold to customers in #5 was $10,000. The company paid $2,300 for interest on'a bank loan 7

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