Derrick Wells decided to start a dental practice. The first five transactions for the business follow.

1. Derrick invested $89,000 cash in the business.
2. Paid $29,000 in cash for equipment.
3. Performed services for cash amounting to $8,900.
4. Paid $3,700 in cash for advertising expense.
5. Paid $2,900 in cash for supplies.

(1) Select which two accounts are affected in each of the above transactions. (2&3) Post the above transactions into the appropriate T accounts.

Select which two accounts are affected in each of the above transactions.

Transactions	Debit	Credit
Transaction 1
Transaction 2
Transaction 3
Transaction 4
Transaction 5

Post the above transactions into the appropriate T accounts.

Cash					Equipment
					Bal.
Bal.
Fees Income					Advertising Expense
Bal.					Bal.
Supplies					Derrick Wells, Capital
Bal.					Bal.