The following are six transactions for Aaron's Auto Repair, Inc., during the month of February: Feb 2
Question:
The following are six transactions for Aaron's Auto Repair, Inc., during the month of February:
Feb 2 Performed service for customers on account, $1,425.
8 Purchased supplies on account, $225.
10 Paid advertising expense, $175.
14 Received cash of $900 from credit customers on account.
21 Paid $150 on accounts payable.
26 Performed service for customers and received cash, $1,850.
Requirement
Complete the following table. For each transaction shown, determine the accounts affected, the type of account, whether the account increases or decreases, and whether it would be recorded in the journal on the debit or credit side.
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