ACCOUNTING PROBLEM
Derrick Wells decided to start a dental practice. The first five transactions for the business follow.
i. Derrick invested $45,000 cash in the business.
ii. Paid $15,000 in cash for equipment.
iii. Performed services for cash amounting to $4,500.
iv. Paid $1,900 in cash for advertising expense.
v. Paid $1,500 in cash for supplies.
(1) Select which two accounts are affected in each of the above transactions.
(2&3) Post the above transactions into the appropriate T accounts.
The response must include a reference list. One-inch margins, double-space, Using Times New Roman 12 pnt font and APA style of writing and citations.