Derrick Wells decided to start a dental practice. The first five transactions for the business follow.
- Derrick invested ,000 in cash in the business.
- Paid $15,000 in cash for equipment.
- Performed services for cash amounting to $4,500.
- Paid $1,900 in cash for advertising expenses.
- 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.