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Accounts for recording transactions (?ssessmentExercise 1?

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Accounts for recording transactions (?ssessmentExercise 1?ask?)Use the? accounts to analyze the following transactions and indicate?here they are affected and where they increase or?ecrease:A security company bought office supplies for cash for $ 2,000.The security company bought a safe on credit for $ 2,500.The owner of the security company invested $ 35,000 in cash.During the security company’s first month of operations, $ 1,000 in salary was paid to security guards.A customer paid $ 26,000 in cash for a security service.During the first month, $ 400 was paid for electric light service.Exercise 2Answer the following premises:Explain in your own words the concept of?ebit?n accounting.?Explain in your own words the concept of?redit?n accounting.?Explain in your own words the difference between?edger?nd?ccount.??xercise 3Analyze the following transactions into T accounts.?rganize them as they should appear in the?hart of accounts?nd indicate the number that corresponds to each account:February Description1 $18,000 in cash was invested to start the business.3 A vehicle was purchased for the business for $19,000 on credit.3 Office supplies were purchased for $800 in cash.4 The rent for the business premises for the current month was paid for $2,000.5 A service was performed to a customer (fee earned)?n the amount of $5,000.10 A computer was purchased for $ 1,500.15 Employees were paid wages of $ 3,800.16 A credit customer service was performed for $ 2,500.18 A payment was made on the vehicle purchased on credit on February 3 for $450.?xercise 4Make a table in MS Excel to record the following transactions in the general?ournal?sing the rules of the double-entry system:February Description2 Heavy equipment was purchased for $45,000.3? $250 in gasoline was paid for heavy equipment.4? Excavation work was done for $2,500.6? Construction materials were purchased for $3,525.9? Advertising?xpense?as paid?or $750.?11 A withdrawal was made for personal use in the amount of $800.12 Employees were paid wages of $ 5,800.?xercise 5Indicate which is the normal balance of the following accounts:Rent paid in advance?(Prepaid Rent)Accounts?payableJoe Doe, withdrawal?(withdraw)Cash?(cash)Note??payable?notes payable)?ateriales?(?upplies?Salary?expenseIngre?o unearned?(unearned revenue)Income?(revenue)LandBusinessAccountingACCO 1000

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