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General Ledger Cash in Bank Accounts Receivable Office Furniture Office Equipment Accounts Payable Alice Roberts, Capital Analyze each of the following transactions. Explain the debit and the credit. Use the format shown in the example Example: On June 2 Alice Roberts invested $5,000 of her own money in a business called Roberts Employment Agency a. The asset account Cash in Bank is increased. Increases in asset accounts are recorded as debits. b. The owner's capital account Alice Roberts, Capital is increased. Increases in the owner's capital account are recorded as credits (This problem will be manually graded by your teacher so the "Check My Work" link does not appear.) 1. On June 3 Purchased a computer on account from Computer Inc. for $2,500. the asset account office equipment is increases in assets account are recorded as debit b. the liabilities account payable is increased, increases in liabilities account are recorded as credit 2. On June 9 Transferred a desk (Office Furniture) to the business. The desk is worth $750, 3. On June 15 Made a partial payment on account of $1,000 to Computer In a. The asset account Cash in Bank is increased. decreases in asset accounts are recorded as debits. b. The owner's liabilities, payable is increased. Increases in the owner's capital account are recorded as credits

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