Problem $3\mathrm{.}1$A $($Algo$)$ Using T accounts to record transactions involving assets, liabilities, and owner's

equity. LO $3-1$

The following transactions occurred at several different businesses and are not related.

Post the following transactions into the appropriate T accounts.

Transactions:

Hunter Thompson, an owner, made an additional investment of $$23,500$ in cash.

A firm purchased equipment for $$8,500$ in cash.

A firm sold some surplus office furniture for $$1,950$ in cash.

A firm purchased a computer for $$2,200,$ to be paid in $60$ days.

A firm purchased office equipment for $$9,700$ on credit. The amount is due in $60$ days.

Nancy Fowler, owner of Fowler Travel Agency, withdrew $$4,500$ of her original cash investment.

A firm bought a delivery truck for $$39,500$ on credit; payment is due in $90$ days.

A firm issued a check for $$2,000$ to a supplier in partial payment of an open account balance.

Analyze:

Select the transactions that directly affected an owner's equity account.

Complete this question by entering your answers in the tabs below.

Post the following transactions into the appropriate T accounts. $($Select the Debit account first, then the Credit account.$)$