The following transactions occurred for Webb Technology Solu

The following transactions occurred for Webb Technology Solutions Cick the icon to view the transactions) Read the sequkement Record debits first, then credits. Select the explanation on the last line of the joumal entry table) May 1: The business recelved cash of $70.000 and issued common stock to Adam Wabb Date Accounts and Explanation Debit Credit May 1 Choose trom any list or eter any umber in the input fields and then cick Check Answer

Solution

Date Account and Explanation Debit Credit May 1 Cash 70000 Common stock 70000 2 Office Supplies 300 Accounts payable 300 4 Building and Land 53000 Cash 53000 6 Cash 3500 Service revenue 3500 9 Accounts payable 200 Cash 200 17 Accounts receivable 3300 Service revenue 3300 19 Rent expense 400 Cash 400 20 Cash 1200 Unearned revenue 1200 21 Prepaid Advertising   500 Cash 500 23 cash 3000 Accounts receivable 3000 31 Salaries Expense 1700 Cash 1700