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Describe derrick wells decided to start a dental practice

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

  1. Derrick invested $45,000 cash in the business.
  2. Paid $15,000 in cash for equipment.
  3. Performed services for cash amounting to $4,500.
  4. Paid $1,900 in cash for advertising expense.
  5. Paid $1,500 in cash for supplies.

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

Question (2&3) Post the above transactions into the appropriate T accounts.

Reference no: EM132451273

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