Cycle Tours Co. is a travel agency. The nine transactions recorded by Cycle Tours during February 2010,
Question:
Cycle Tours Co. is a travel agency. The nine transactions recorded by Cycle Tours during February 2010, its first month of operations, are indicated in the following T accounts:
Indicate for each debit and each credit:(a) Whether an asset, liability, capital stock, dividend, revenue, or expense account was affected and(b) Whether the account was increased (+) or decreased (?). Present your answers in the following form, with transaction (1) given as an example:
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