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Post the transactions into the appropriate t accounts

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Question - Derrick Wells decided to start a dental practice. The first five transactions for the business follow.

1. Derrick invested $88,000 cash in the business.

2. Paid $28,000 in cash for equipment.

3. Performed services for cash amounting to $8,800.

4. Paid $3,600 in cash for advertising expense.

5. Paid $2,800 in cash for supplies.

(1) Select which two accounts are affected in each of the above transactions.

(2) Post the above transactions into the appropriate T accounts.

Reference no: EM132228138

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