Question: Please see below. I need help with this asap please and thank you. Selected transactions for Martinez, an interior decorator corporation, in its first month
Please see below. I need help with this asap please and thank you.



Selected transactions for Martinez, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $13,300 in cash. 2. Purchased used car for $10,100 cash for use in business. 3. Purchased supplies on account for $280. 3 . 4. Billed customers $3,930 for services performed. 5. Paid $150 cash for advertising at the start of the business. 6. Received $1,610 cash from customers billed in transaction (4). 7. Paid creditor $310 cash on account. 8. Paid dividends of $550 cash to stockholders. 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. Account Debited No. Basic Type Specific Account Effect Normal Balance Basic Type 1. Asset Cash Increase Debit Stockholders' Equit 2. 3. 4 > 5. 7 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. Account Credited fect Normal Balance Basic Type Specific Account Effect Normal Balance Debit ie Stockholders' Equity Common Stock Credit Increase
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