Cora's Services was formed on May 1. The following transactions and events took place during the first month.
1. Cora Jacq invested $20,000 cash in the company, as its sole owner.
2. Hired two employees to work in the office. They will each 3. Signed a 2-year rental agreement on an office; paid $24,000 cash for rent.
4. Purchased equipment costing $30,000; paid $6,000 now and the remainder on account.
5. Paid $2,100 cash for furniture.
6. Purchased basic office supplies for $520 cash.
7. Purchased more office supplies for $1,300 on account.
8. Total revenues earned were $50,000: $38,000 cash and $12,000 on account.
9. Paid $400 to suppliers from item 7.
10. Received $4,000 from customers in payment of accounts receivable.
11. Received utility bill in the amount of $490, to 12. Paid the monthly salaries of the two employees, totaling $4,000.
Indicate the account debited and the account credited for each date.

Question

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The Answer of Cora's Services was formed on May 1. The following transactions and events took place during the first month.
1. Cora Jacq invested $20,000 cash in the company, as its sole owner.
2. Hired two employees to work in the office. They will each 3. Signed a 2-year rental agreement on an office; paid $24,000 cash for rent.
4. Purchased equipment costing $30,000; paid $6,000 now and the remainder on account.
5. Paid $2,100 cash for furniture.
6. Purchased basic office supplies for $520 cash.
7. Purchased more office supplies for $1,300 on account.
8. Total revenues earned were $50,000: $38,000 cash and $12,000 on account.
9. Paid $400 to suppliers from item 7.
10. Received $4,000 from customers in payment of accounts receivable.
11. Received utility bill in the amount of $490, to 12. Paid the monthly salaries of the two employees, totaling $4,000.
Indicate the account debited and the account credited for each date.

Cora's Services Was Formed on May 1