CALCULATOR PIRTER VERSION NEXT No. Basic Type Account Debited Specific Account 1. Asset Effect Increase Normal Balance Debit Basic Type Stockholders' Equity Account Credited Specific Account Common Stock Effect Increase Moral Balance Credit 2. Asset Increase Debit v Asset Accounts Payable Decrease Debit Asset E Dividends Service Revenue Supplies CAccounts Receivable Cash Accounts Payable Advertising Expense Equipment Increase Debit Liability Equipment Increase Credit M M 8. Click if you would like to Show Work for this question: Open Show Work CALCULATOR PRINIER YEMEN 4 AM NEXT Account Debited No. Basic Type Effect Specific Account Cash Normal Balance Debit Basic Type Stockholders' Equity Account Credited Specific Account Common Stock Effect Increase Normal Balance Credit 1. Asset Increase 2. Asset Cash Increase Debit Asset Decrease Debit Cash M Liability Debit Increase Increase Credit Accounts Payable ServiRevenue Accounts Receivable Dividends Advertising Expense Supplies Equipment Cash 4. 5. 6. 7. 8. Click if you would like to Show Work for this question: Open Show Work SAVE FOR LATER SULMIT ANSWER Attempts: 2 of 10 used Exercise 3-07 (Part Level Submission) Selected transactions for Concord, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $15,500 in cash. Purchased used car for $10,200 cash for use in business. Purchased supplies on account for $270. Billed customers $4,400 for services performed. Paid $180 cash for advertising at the start of the business, Received $1,850 cash from customers billed in transaction (4). Paid creditor $430 cash on account. Paid dividends of $530 cash to stockholders