2-2 Application Problem: Analyzing transactions into debit and credit parts Lo4 Helfrey Marketing Services uses the following accounts Sawyer Helfrey, Capital Sawyer Helfrey, Drawing Sales Cash...

2-2 Application Problem: Analyzing transactions into debit and credit parts Lo4 Helfrey Marketing Services uses the following accounts Sawyer Helfrey, Capital Sawyer Helfrey, Drawing Sales Cash Supplies Prepaid Insurance Accounts Receivable-Neco Valenza Accounts Payable-All Star Company Advertising Expense Rent Expense Transactions: June 1. Received cash from owner as an investment, $10,000.00. 2. Paid cash for insurance, $4,000.00 4. Bought supplies on account from All Star Company, $6,000.00. 5. Paid cash for supplies, $1,000.00. 8. Paid cash on account to All Star Company, $4,000.00. Instructions: 1. Prepare two T accounts for each transaction. On each T account, write the account title of one of the accounts affected by the transaction. Use the forms in your Working Papers. 2. Write the debit or credit amount in each T account to show how the transaction affected that account. T accounts for the first transaction are given as an example.