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Question 5 View Policies Current Attempt in Progress Selected transactions for Ayayai, an interior decorator corporation, inJournalize the transactions. (If no entry is required, select No Entryfor the account titles and enter for the amounts. Cre

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Answer #1
Account Debited Account Credited
Basic Type Specific Account Effect Normal Balance Basic Type Specific Account Effect Normal Balance
1 Asset Cash Increase Debit Stockholders equity Common Stock Increase Credit
2 Asset Equipment(Used car) Increase Debit Asset Cash Decrease Debit
3 Asset Supplies Increase Debit Liabilities Accounts Payable Increase Credit
4 Assets Accounts Receivable Increase Debit Stockholders equity Service Revenue Increase Credit
5 Stockholders equity Advertising expense Increase Debit Assets Cash Decrease Debit
6 Asset Cash Increase Debit Assets Accounts Receivable Decrease Debit
7 Liability Accounts Payable Decrease Credit Assets Cash Decrease Debit
8 Liabilities Dividend Payable Decrease Credit Assets Cash Decrease Debit
1 Cash $16,500
Commo Stock $16,500
2 Equipment(Used car) $10,200
Cash $10,200
3 Supplies $250
Accounts Payable $250
4 Accounts Receivable $3,790
Service Revenue $3,790
5 Advertising expense $130
Cash $130
6 Cash $1,770
Accounts Receivable $1,770
7 Accounts Payable $220
Cash $220
8 Dividends Payable $320
Cash $320
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