QUESTION TWO: The information presented below was extracted from the journal books of ITMD company for auto mechanic services regarding some of the company's transactions. Draw a circle on the correct answer that represents the correct recording of each transaction on the company's journals: 1. Investing $75,000 cash in the company's capital: a. Debit Stockholder's Equity, and Credit Cash b. Debit Cash, and Credit Stockholder's Equity c. Debit Cash, and Credit Creditors 2. Opening a bank account and depositing $25,000 cash: a. Debit Bank Account, and Credit Cash b. Debit Cash, and Credit Bank Account c. Debit Stockholder's Equity, and Credit Cash 3. Purchasing furniture for $10,000 paid cash: og

The information presented below was extracted from the journal books of ITMD company for auto mechanic services regarding some of the company's transactions. Draw a circle on the correct answer that represents the correct recording of each transaction on the company's journals: 1. Investing $75,000 cash in the company's capital: a. Debit Stockholder's Equity, and Credit Cash b. Debit Cash, and Credit Stockholder's Equity c. Debit Cash, and Credit Creditors 2. Opening a bank account and depositing $25,000 cash: a. Debit Bank Account, and Credit Cash b. Debit Cash, and Credit Bank Account c. Debit Stockholder's Equity, and Credit Cash 3. Purchasing furniture for $10,000 paid cash: a. Debit Cash, and Credit Furniture b. Debit Cash, and Credit Purchase c. Debit Furniture, and Credit Cash 4. Purchasing equipment for $35,000 on account: a. Debit Equipment, and Credit Creditors b. Debit Equipment, and Credit Cash c. Debit Cash, and Credit Equipment 5. Purchasing supplies (oils and lubricants) for $5,000 paid by cheque: a. Debit Purchase, and Credit Bank Account b. Debit Supplies, and Credit Cash c. Debit Supplies, and Credit Bank Account 6. Paying $15,000 cash to rent one big garage: a. Debit Rent, and Credit Cash b. Debit Cash, and Credit Rent c. Debit Garage Building, and Credit Cash 7. Paying $2,500 cash for advertising in local newspapers: a. Debit Local Newspaper, and Credit Cash b. Debit Advertisement, and Credit Cash c. Debit Cash, and Credit Advertisement 8. Receiving $7,500 in cash for auto repair services rendered to clients: a. Debit Service Revenue, and Credit Cash b. Debit Cash, and Credit Services Revenue c. Debit Cash, and Credit Receivables 9. Receiving $6,000 by cheques from clients for auto repair services provided a. Debit Cash, and Credit Service Revenue b. Debit Bank Account, and Credit Service Revenue c. Debit Service Revenue, and Credit Bank Account 10. Withdrawing $1,500 in cash for personal use: a. Debit Stockholder's Equity, and Credit Cash b. Debit Cash, and Credit Stockholder's Equity c. Debit Bank Account, and Credit Cash