Activity#2: Identification Avila and Curada form a partnership called "AC enterprises" which sells school supplies and other services. Indicate the accounts that should be debited or credited. If no Journal entry is required, write n/a in the columns. Transactions Debit Credit 1 Both partners invested cash, 50,000 each. Purchased 2 in 1 scanner and printer equipment for business use worth of 7,000; paid one-half for cash and gave note payable for the balance. Sales for school Supplies collected in cash for 12.000 Billed Customer for printing services for 2.000 Curada withdrew 2,000 for personal use. Activity#3: Solve for account Balances Continuing Illustration: The accounts below are the summary of transactions for AC enterprises for the week. Determine each account their respective balances and if the accounts have been increased or decreased. Cash a. 100,000 b. 3,500 c. 12,000 e. 2,000 Printer a. 7,000 Accounts Receivable d. 2,000 Notes Payable |b. 3,500 Curada, Withdrawals e. 2.000 Sales c. 12,000