PARRISH 2-1 (COPYMASTER TRANSACTIONS)In the following transactions please state if they fall under Assets, Liabilities, or Equity and if they would be debited or credited for each transaction.1) Shareholders invested $500 to start the business2) Copymaster bought a copy machine for $15003) Copymast sold copies to customers for $500 cash4) Copymaster produced copies for Fellows Corp. , its customer.  The total sale amount was $1250.  Copymaster agreed to bill Fellows for the sale at the end of the month5) Copymaster paid employees $6006) Copymaster bought supplies for $3007) Copymaster paid rent of $7008) Copymaster paid utilities of $2009) Copymaster bought office furniture for $50010) Copymaster had an unpaid phone bill at the end of the month

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Asked Jan 18, 2020
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PARRISH 2-1 (COPYMASTER TRANSACTIONS)

In the following transactions please state if they fall under Assets, Liabilities, or Equity and if they would be debited or credited for each transaction.

1) Shareholders invested $500 to start the business

2) Copymaster bought a copy machine for $1500

3) Copymast sold copies to customers for $500 cash

4) Copymaster produced copies for Fellows Corp. , its customer.  The total sale amount was $1250.  Copymaster agreed to bill Fellows for the sale at the end of the month

5) Copymaster paid employees $600

6) Copymaster bought supplies for $300

7) Copymaster paid rent of $700

8) Copymaster paid utilities of $200

9) Copymaster bought office furniture for $500

10) Copymaster had an unpaid phone bill at the end of the month

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