1. Buying equipment with Cash 1 Equipment (Asset) Cash (Asset) + - Debit Credit Debit Credit

2. Bought supplies on account 2 Supplies (Asset) Accounts Payable (Liability) + + Debit Credit Debit Credit

3. Earned revenue from cash customers 3 Cash (Asset) Revenue ( Revenue ) + + Debit Credit Debit Credit

4. Earned revenue on account 4 Accounts Receivable (Asset) Revenue ( Revenue ) + + Debit Credit Debit Credit

5. Paid account payable 5 Accounts Payable (Liability) Cash( Asset ) - - Debit Credit Debit Credit

6. Earned revenue from cash customers 6 Cash (Asset) Revenue ( Revenue ) + + Debit Credit Debit Credit

7. Received utility bill that we’ll pay next month 7 Utilities Expense (expense) Accounts Payable (liability) + + Debit Credit Debit Credit