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Below is a chart of accounts. Following is a series of transactions. Indicate for each tra

Below is a chart of accounts. Following is a series of transactions. Indicate for each tra

Below is a chart of accounts. Following is a series of transactions. Indicate for each transaction the accounts that should be debited and credited by inserting the proper account number in the space provided.

1100 Cash3200M. Martin, Withdrawals

1120Accounts Receivable4100Legal Fees

1210Computer Equipment5110Salaries Expense

2100 Accounts Payable5120Rent Expense

3100 M. Martin, Capital5130Advertising Expense

DebitCreditTransaction

____________________1.Purchased computer equipment on account.

____________________2.Paid salaries for the week.

____________________3.Invested additional cash in the business.

____________________4.Received cash for services performed.

____________________5.Billed a client on account for services performed.

____________________6.Paid accounts payable.

____________________7.Collected accounts receivable.

____________________8.Withdrew cash for personal use.

____________________9.Paid advertising expense.

____________________10.Paid rent expense for the month.

Tripti 06-Dec-2019

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