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PID)..) Mex.tmllaunchid=37170199-c871-458f-8bdd-006e185fbdf98/question/1 Question 2 of 4 -13 View Policies Current Attempt in Progress Riko Ltd. has the following selected transactions: 4 5. 6. 7. Issued common shares to shareholders in exchange for $5,000. Paid rent in advance for two months, $2.100. Paid administrative assistant $500 salary. Billed clients $1.200 for services provided. Received $900 in partial payment from clients for services provided in item 4 above. Purchased $500 of supplies on account. Paid supplier amount owing on account, $500. Borrowed $1.000 cash from the bank. 8. For each transaction indicate (a) the basic type of account debited and credited (asset, liability, shareholders equity): (b) the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); and (c) whether the specific account is increased or decreased to record this transaction. Use the following format (a) Account Debited (b) Specific Account (c) (a) Transaction Basic Type Effect Basic Type Question 2 of 4 -/3 E 8. Borrowed $1,000 cash from the bank. For each transaction, indicate (a) the basic type of account debited and credited (asset, liability, shareholders' equity): (b) the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); and (c) whether the specific account is increased or decreased to record this transaction. Use the following format. Account Debited Accoy (b) (c) (a) Specific insaction Basic Type Account Effect Basic Type 2 Sharelvolders' Equity Asset Liability 3 4

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