Financial Accounting

| | Account Debited | | Account Credited |

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Date | | (a)BasicType | | (b)SpecificAccount | | (c)Effect | | (d)NormalBalance | | (a)BasicType | | (b)SpecificAccount | | (c)Effect | | (d)NormalBalance |

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Jan. 2 | | Asset | | Cash | | Increase | | Debit | | Stockholders’Equity | | CommonStock | | Increase | | Credit |

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3 | | Asset | | Equipment | | Increase | | Debit | | Asset | | Cash | | Decrease | | Debit |

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9 | | Asset | | Supplies | | Increase | | Debit | | Liability | | AccountsPayable | | Increase | | Credit |

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11 | | Asset | | AccountsReceivable | | Increase | | Debit | | Stockholders’Equity | | ServiceRevenue | | Increase | | Credit |

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16 | | Stockholders’Equity | | AdvertisingExpense | | Increase | | Debit | | Asset | | Cash | | Decrease | | Debit |

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20 | | Asset | | Cash | | Increase | | Debit | | Asset | | AccountsReceivable | | Decrease | | Debit |

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23 | | Liability | | AccountsPayable | | Decrease | | Credit | | Asset | | Cash | | Decrease | | Debit |

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28 | | Stockholders’Equity | | Dividends | | Increase | | Debit | | Asset | | Cash | | Decrease | | Debit |

EXERCISE 2-3

General Journal J1

Date | | Account Titles and Explanation | | Ref. | | Debit | | Credit |

Jan. 2 | | Cash | | | | 10,000 | | |

| | Common Stock | | | | | | 10,000 |

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3 | | Equipment | | | | 4,000 | | |

| |...