Select all that applyThermal, Inc. bought a new office computer for $5,000 cash. The journal entry to record this transaction will include a $5,000 ______. (Check all that apply.)Multiple select question.debit to Equipment Expensecredit to Equipmentcredit to Cashdebit to Equipmentdebit to Cash

New equipment with a market value of $15,000 is purchased by exchanging old equipment with a book value of $10,000 along with cash of $8,000. The debit to Loss on Exchange of Assets is:Multiple choice question.$5,000$7,000$3,000$8,000

Select all that applyThe journal entry to record $5.6 million in sales on account includes a ______. (Select all that apply.)Multiple select question.debit to Allowance for Doubtful Accounts of $5.6 milliondebit to Accounts Receivable of $5.6 milliondebit to Cash of $5.6 millioncredit to Accounts Payable for $5.6 millioncredit to Sales Revenue of $5.6 million

Select all that applyA company sells a machine that cost $7,000 for $500 cash. The machine had $6,500 accumulated depreciation. The entry to record this transaction will include which of the following entries?Multiple select question.Credit to Cash for $500.Debit to Loss on Sale of Machinery for $500.Credit to Machinery for $7,000.Debit to Cash for $500.Debit to Accumulated Depreciation - Machinery for $6,500.Credit to Gain on Sale of Machinery for $500.Credit to Accumulated Depreciation - Machinery for $6,500.Debit to Machinery for $7,000.

Transaction Analysis: Exercise 1:Mark Jones, an engineering graduate, experienced the following business events in the month ofSeptember:1. He started an engineering consulting business with a cash investment of $10,000 andoffice equipment worth $5,000.2. Purchased office supplies (stationery, pens, paper etc.). $800 cash was paid.3. Bought a scanner/printer for $500 on account from IBM.4. Paid $400 salary to staff.5. Received electricity bill for $300.6. Earned consulting fees of $20,000 for services completed. Of this, $12,000 was receivedin cash and $8,000 was owed by clients.7. Paid $300 to IBM as repayment.8. Withdrew $100 for own use.9. Received $1,000 from one of the clients who owed him money.10. As at September 30, there was $600 of office supplies on hand.Required:Analyze these transactions according to the accounting equation using transaction analysis.Transaction Analysis: Exercise 2:On April 20XX, J. Doff decided to open a painting business called J. Doff Painting Services. Thefollowing transactions took place during the first month of April.1. Owner contributed $20,000 cash to commence business.2. Billed customers for services performed, $9,000.3. Purchased painting supplies on credit for $400.4. Received $4,000 from customers from (2) above.5. Purchased a van for $8,000, paying $2,000 in cash and obtaining a loan for theremainder.6. Paid $100 of amount due for supplies from (3) above.7. J. Doff withdrew $1,000.8. Used $100 worth of painting supplies.9. Paid expenses in cash (advertising $300, telephone $400, electricity $300).10. Paid $2,000 off loan for van in (5) above.REQUIRED:Record the transactions in an accounting equation table (transaction analysis)

Select all that applySunny Sky paid $30,000 cash for a piece of land to be used for a new corporate headquarters building. The journal entry to record this transaction will include a $30,000 ______. (Check all that apply.)Multiple select question.debit to Cashcredit to Landdebit to Buildingdebit to Land Expensecredit to Cashdebit to Land