For each transaction that follows, indicate which account is debited and which account is credited. May 2
Question:
For each transaction that follows, indicate which account is debited and which account is credited.
May 2 Leon Bear started a computer programming business, Bear’s Programming Service, Inc., by investing $5,000 in exchange for common stock.
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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May 2 Debit Cash credit Common Stock 5 Debit Office Equipment c...View the full answer
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Related Book For 
Financial and Managerial Accounting
ISBN: 978-1439037805
9th edition
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
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