AC101 Exam 3
1. Fred Sanchez started a business by investing $15,000
2. Bought $600 worth of equipment and $150 worth of office supplies
3. Received $500 in cash for completed work.
4. Paid $40 for the phone bill
5. Completed $200 of work and sent a bill to the customer
6. Fred Sanchez took $10 out of the company's cash register to buy his lunch.
7. Bought $30 worth of office supplies for cash
8. Paid $300 Cash of what is owed on the equipment bought in transaction 2
9. Received $200 from the customer who owed for the work in transaction 5
10. Received $100 from a customer and agreed to do work next month
I need help figuring out what different categories these each would go in. and whether it's a debit or a credit. Done it several times and can't come up with a balance result on "trial balance sheet"