Analyze the Following Transactions Using the T Account Approach $\begin{array}{cc}\text {Cash }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$

question 64

Essay

Analyze the following transactions using the T account approach.Place the dollar amounts on the debit and credit sides.Indicate next to each entry the number for that transaction.After all transactions have been recorded,foot the accounts where necessary and enter the balance in the proper place for each account.
1.Nick Bowman invested cash of $12,000 in the business.
2.Received and paid utility bill of $125.
3.Bought $300 of supplies on account.
4.Sold services worth $2,500 to customers on account.
5.Received cash payment of $800 from credit customers.
$\begin{array}{cc}\text {Cash }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ $\begin{array}{cc}\text {Accounts Receivable }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ $\begin{array}{cc}\text {Supplies }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ $\begin{array}{cc}\text {Accounts Payable }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ $\begin{array}{cc}\text {Owner's Capital }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ $\begin{array}{cc}\text {Utilities Expense }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$ $\begin{array}{cc}\text {Revenue }\\\hline\begin{array}{ll|l}& \\\end{array}\end{array}$

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Definitions:

Automatic Response

A reflexive or instinctual reaction to a stimulus that occurs without conscious thought or intention.

Associative Learning

The way an individual comes to understand the relationship between two indications or between a behavior and its repercussion.

Classical Conditioning

A learning process that creates associations between a naturally occurring stimulus and a previously neutral stimulus.

Operant Conditioning

An educational technique that influences the strength of a behavior by awarding reinforcements or imposing penalties.