pre 1, chapter 2 #4

Question 4 01b View Policies Current Attempt in Progress M. Gonzales has the following transactions during August of the current year. Indicate the effect on the accounting equation and the debit-credit analysis. Aug. 1 Opens an office as a financial advisor, investing $9,000 in cash. 4 Pays insurance in advance for 6 months, $2,100 cash. 16 Receives $3,600 from clients for services performed. 27 Pays secretary $1,000 salary. Effect on Accounting Equation Aug. 1 The asset Cash is Question 4 of 6 -/15 E Effect on Accounting Equation Aug. 1 The asset Cath Debits Debit the owner's equity account is Credits Credit Aug. 4 The asset Prepaid insurance is Debits Debit the asset Cash is Credits Credit is The asset Aug. 16 Cash Debits Debit Credits the revenue is Service Revente Credit Debits Aug. 27 The expense Salaries and Wages Expense Debit is Credits the asset Cash Question 4 of 6 - / 15 HII Debit Credit Debits Debit Credits Credit Dube Debe Credits Credit De Debt Credit G