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Transactions made by orlando carbrera

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Transactions made by Orlando Carbrera and Co., a law firm, for the month of March are shown below. Prepare a tabular analysis which shows the effects of these transactions on the expanded accounting equation, similar to that shown in Illustration 1-8.

1. The company provided $20,000 of services for customers, on credit.

2. The company received $20,000 in cash from customers who had been billed for services [in transaction (1)].

3. The company received a bill for $2,000 of advertising, but will not pay it until a later date.

4. Orlando Carbrera withdrew $5,000 cash from the business for personal use.

Reference no: EM131136342

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