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1.) DC&H sold $20,000 in stock to expand their West Coast operations Entry debits cash and credits common stock. This represents an increase for both accounts so positive numbers used.
2.) DC&H paid the wages payable obligaiton Entry debits wagers payable and credits cash. This is a decrease to both accounts so negative numbers used.
3.) DC&H billed $110,000 in sales revenue, all of the billings were due 30 days from receipt of invoice Entry debit accts receivable and credit sales revenue. This is an increase for both accounts so positive numbers used.
4.) DC&H paid $3,500 on the tax obligation Entry debits taxes payable and credits cash. This is a decrease to both accounts so negative numbers used.
5.) DC&H sold $5,000 in marketable securities Entry debits cash and credits marketable securities. This is an increase for cash so a positive number used, and decrease to marketable securities, so a negative number is used.
6.) DC&H paid $60,000 for salaries Entry debits salary expense and credits cash. This is an increase for salary so a positive number used, and decrease to cash, so a negative number is used.
7.) DC&H paid $16,000 towards the Note Payable Entry debits notes payable and credits cash. This is a decrease to both accounts so negative numbers used.
8.) DC&H collected $105,000 on accounts receivable Entry debits cash and credits accounts receivable. This is an increase for cash so a positive number used, and decrease to accounts receivable, so a negative number is used.
9.) DC&H paid $10,000 for advertising Entry debits salary expense and credits cash. This is an increase for salary so a positive number used, and decrease to cash, so a negative number is used....
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