Leon Bear started a computer programming business, Bears Programming Service. For each transaction that follows, indicate which

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Leon Bear started a computer programming business, Bear’s Programming Service. For each transaction that follows, indicate which accounts is debited and which account is credited.

May 2 Leon Bear invested $5,000.

5 Purchased a computer for $2,500 in cash.

7 Purchased supplies on credit for $300.

19 Received cash for programming services performed, $500.

22. Received cash for programming services to be performed, $600.

25 Paid the rent for May, $650.

31 Billed a customer for programming services performed, $250.

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Principles of Accounting

ISBN: 978-1439037744

11th Edition

Authors: Needles, Powers, crosson

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Question Posted: Feb 23, 2012 12:19 AM

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Leon Bear started a computer programming business, Bears Programming Service. For each transaction that follows, indicate which

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May 2 Debit Cash credit Owners Capital 5 Debit Office Equipment credit Cash ...View the full answer

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