Current Attempt in Progress

Selected transactions for Indigo, an interior decorator corporation, in its first month of business, are as follows.

Issued stock to investors for $$15,600$ in cash.

Purchased used car for $$10,200$ cash for use in business.

Purchased supplies on account for $$390.$

Billed customers $$5,070$ for services performed.

Paid $$270$ cash for advertising at the start of the business.

Received $$1,690$ cash from customers billed in transaction $(4).$

Paid creditor $$440$ cash on account.

Paid dividends of $$510$ cash to stockholders.

$($a$)$

For each transaction indicate the basic type of account debited and credited $($asset$,$ liability, stockholders' equity$)$; the specific account debited and credited $($Cash$,$ Rent Expense, Service Revenue, etc.$)$; whether the specific account is increased or decreased; and the normal balance of the specific account.

No$.$ Basic Type Account Debited