The following transactions took place at Wesson Counseling Services, a business established by Alexis Wesson.
Post the following transactions into the appropriate T accounts.
Transactions:
Alexis Wesson invested $100,000 cash in the business.
Purchased furniture for $34,000 in cash.
Bought equipment, a fax machine, for $1,350; payment is due in 30 days.
Purchased a used car for the firm for $22,175 in cash.
Wesson invested an additional $31,000 cash in the business.
Bought equipment, a new computer, for $2,500; payment is due in 60 days.
Paid $1,350 to settle the amount owed on the fax machine.
Wesson withdrew $10,400 in cash for personal expenses.
Analyze:
Which transactions affected asset accounts?