Account debited Account Credited

Transaction Type Effect Type Effect

1 asset + owner's equity +
2 asset + asset -
3 asset + asset -
liability +
4 expense + asset -
5 asset + revenue +
6 liability - asset -
7 asset + asset -
8 expense + asset -
9 drawing + asset -
(introduced capital increase in cash and capital)
(purchase of supplies)
(purchase of equipment partly cash and partly on credit)

(payment of operating expenses)

(sales made on account)
(payment of accounts payable)
(receipt of cash from sales on account)
(supplies expense)
(payment of dividends)