Issue link: http://www.e-digitaleditions.com/i/176211
May 11. 12. 13. 15. 16. 22. 23. 25. 26. 30. Received cash from sales, $1,000.00. Bought supplies on account from West End Supplies, $230.00. Received cash on account from Lee Chen, $650.00. Paid cash for miscellaneous expense, $35.00. Paid cash on account to Bellville Supplies, $60.00. Paid cash for electric bill (utilities expense), $65.00. Paid cash for advertising, $105.00. Sold services on account to Ginger McCure, $550.00. Paid cash to owner for personal use, $500.00. Received cash on account from Ginger McCure, $300.00. 2-C Challenge Problem: Analyzing transactions recorded in T accounts LO 4, 5 The following T accounts show the current financial situation for Sunshine Cleaners. Write the answers for the following problem in the Working Papers. Cash 3,000.00 (2) 350.00 (3) 200.00 (6) 450.00 (7) (10) (11) (12) (1) (5) (8) (9) Sales (5) (8) (9) (13) 50.00 35.00 40.00 450.00 300.00 275.00 250.00 Accounts Receivable—Ellie Morgan 115.00 (13) (6) Kelsey Guerrero, Capital (1) Rent Expense 450.00 (2) 3,000.00 Miscellaneous Expense 35.00 (7) Accounts Payable—Tri State Supplies 275.00 (4) 550.00 (11) Advertising Expense 40.00 (3) Supplies 550.00 300.00 (4) (10) 350.00 200.00 450.00 115.00 Utilities Expense 50.00 Kelsey Guerrero, Drawing 250.00 (12) 1 2 3 Trans. No. Accounts Affected Account Classification 1 Cash Kelsey Guerrero, Capital Asset Owner's Equity 4 5 Entered in Account as a Debit Credit ✔ ✔ 6 Description of Transaction Received cash from owner as an investment Instructions: 1. Analyze each numbered transaction in the T accounts. Write the titles of accounts affected in Column 2. For each account, write the classification of the account in Column 3. 2. For each account, place a check mark in either Column 4 or 5 to indicate if the account is affected by a debit or a credit. 3. For each transaction, write a brief statement in column 6 describing the transaction. Information for Transaction 1 is given as an example. 54 Chapter 2 Analyzing Transactions into Debit and Credit Parts