Homework Answers
Effect
| Cash | Net income | ||
| a | Purchase $100 supplies for Cash | -100 | 0 |
| b | Recorded an adjusting entry to record use of $20 of the above supplies | 0 | -20 |
| c | Made sales of $1300 all on accounts | 0 | 1300 |
| d | Received $800 from customers in payment of their accounts | 800 | 0 |
| e | Purchase equipment for Cash $2500 | -2500 | 0 |
| f | Depreciation on building | 0 | -600 |
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