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Current Attempt in Progress

Flounder Corp. has the following transactions during August of the current year.

Aug. 1		Issues shares of common stock to investors in exchange for $14,800.
Aug. 4		Pays insurance in advance for 3 months, $1,700.
Aug. 16		Receives $900 from clients for services rendered.
Aug. 27		Pays the secretary $710 salary.

Indicate the basic analysis and the debitcredit analysis.

		Basic Analysis		Debit-Credit Analysis
Aug. 1		The asset Prepaid InsuranceCashSalaries and Wages ExpenseCommon StockService Revenue is IncreasedDecreased;		Debits Decrease Stockholders EquityIncrease Stockholders EquityIncrease AssetsIncrease RevenuesDecrease ExpensesIncrease ExpensesDecrease AssetsDecrease Revenues
		the stockholders equity account Prepaid InsuranceCommon StockSalaries and Wages ExpenseService RevenueCash is IncreasedDecreased.		Debit Salaries and Wages ExpensePrepaid InsuranceService RevenueCashCommon Stock $
				Credits Increase RevenuesDecrease RevenuesIncrease Stockholders EquityDecrease ExpensesIncrease AssetsDecrease Stockholders EquityIncrease ExpensesDecrease Assets
				Credit Salaries and Wages ExpenseCommon StockService RevenueCashPrepaid Insurance $
Aug. 4		The asset CashService RevenueCommon StockSalaries and Wages ExpensePrepaid Insurance is IncreasedDecreased;		Debits Increase Stockholders EquityIncrease ExpensesDecrease Stockholders EquityDecrease ExpensesIncrease RevenuesIncrease AssetsDecrease AssetsDecrease Revenues
		the asset Service RevenueCashSalaries and Wages ExpensePrepaid InsuranceCommon Stock is IncreasedDecreased.		Debit CashService RevenueCommon StockPrepaid InsuranceSalaries and Wages Expense $
				Credits Increase RevenuesDecrease AssetsDecrease Stockholders EquityIncrease AssetsDecrease RevenuesDecrease ExpensesIncrease Stockholders EquityIncrease Expenses
				Credit Service RevenuePrepaid InsuranceSalaries and Wages ExpenseCommon StockCash $
Aug. 16		The asset CashService RevenuePrepaid InsuranceCommon StockSalaries and Wages Expense is IncreasedDecreased;		Debits Increase Stockholders EquityDecrease ExpensesDecrease Stockholders EquityIncrease ExpensesDecrease AssetsIncrease AssetsDecrease RevenuesIncrease Revenues
		the revenue CashService RevenueCommon StockPrepaid InsuranceSalaries and Wages Expense is IncreasedDecreased.		Debit Prepaid InsuranceSalaries and Wages ExpenseService RevenueCashCommon Stock $
				Credits Decrease ExpensesIncrease ExpensesDecrease Stockholders EquityDecrease AssetsIncrease Stockholders EquityIncrease AssetsIncrease RevenuesDecrease Revenues
				Credit Prepaid InsuranceCommon StockService RevenueCashSalaries and Wages Expense $
Aug. 27		The expense Common StockCashPrepaid InsuranceSalaries and Wages ExpenseService Revenue is IncreasedDecreased;		Debits Increase AssetsIncrease Stockholders EquityIncrease RevenuesDecrease RevenuesDecrease ExpensesDecrease AssetsIncrease ExpensesDecrease Stockholders Equity
		the asset Service RevenueCashSalaries and Wages ExpensePrepaid InsuranceCommon Stock is IncreasedDecreased.		Debit CashService RevenueCommon StockPrepaid InsuranceSalaries and Wages Expense $
				Credits Increase RevenuesDecrease ExpensesDecrease Stockholders EquityIncrease ExpensesIncrease AssetsIncrease Stockholders EquityDecrease AssetsDecrease Revenues
				Credit Prepaid InsuranceService RevenueSalaries and Wages ExpenseCashCommon Stock $