Question #$2(20$ points$)$

Using the above as a guide to set up your accounting equation, record the following ten transactions

using the accounting equation format of recording business transactions.

EX $1-12$ Transactions

The following selected transactions were completed by Cota Delivery Service during July:

Received cash from the owner as an additional investment in the business, $$50,000.$

Purchased supplies for cash, $$1,800.$

Paid rent for July, $$4,500.$

Paid advertising expense, $$1,200.$

Received cash for providing delivery services, $$11,500.$

Billed customers for delivery services on account, $$33,970.$

Paid creditors on account, $$900.$

Received cash from customers on account, $$27,500.$

Determined that the cost of supplies on hand was $$300$ and $$1,500$ of supplies had been used during the

month.

Paid cash to the owner for personal use, $$1,000.$