T. J. Carling Inc. has the following transaction during August of the current year. Indicate
(a) The effect on the accounting equation
(b) The debit-credit analysis illustrated on page 62-67 of the text.
Aug. 1 Opens and office as a financial advisor, investing R$8,000 in cash in exchange for ordinary shares.
4 Pays insurance in advance for 6 months, R$1,800 cash.
16 Receives R$800 from clients for services provided.
27 Pays secretary R$1,000 salary.