identify whether each transaction is debit or credit

Instructions Identify each statement as true or false. If false, indicate how to correct the statement. E2-2B Selected transactions for T. Carter, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $20,000 cash in business. 3 Paid $500 cash for advertising, 9 Purchased equipment for $7,000 cash. 11 Billed customers $2,300 for services performed. 16 Purchased supplies on account for $700. 20 Received $1,100 cash from customers billed on January 11. 23 Paid creditor $400 cash on balance owed. 28 Withdrew $1,200 cash for personal use by owner. Instructions For each transaction indicate the following. (a) The basic type of account debited and credited (asset, liability, owner's equity). (b) The specific account debited and credited (cash, rent expense, service revenue, etc.). (c) Whether the specific account is increased or decreased. (d) The normal balance of the specific account. Use the following format, in which the January 2 transaction is given as an example. Account Debited Account Credited (a) (b) (c) (d) Basic Specific Normal Basic Specific Normal Date Type Account Effect Balance Type Account Effect Balance Jan. 2 Asset Cash Increase Debit Owner's T. Carter, Increase Credit Equity Capital (b)