Hot Suds Car Wash uses the following accounts:

Use a form similar to the one that follows. For each transaction: 

1. Identify the accounts affected.

2. Classify the accounts.

3. Determine the amount of the increase (+) or decrease (-) for each account affected. The first transaction is completed as an example.

Transcribed Image Text:

Assets Cash in Bank Accounts Receivable Office Equipment Office Furniture Car Wash Equipment = Liabilities Accounts Payable + Owner's Equity Regina Delgado, Capital