Chapter 2, Problem 2.9E

Identify transactions (LO2–4)

Below are recorded transactions of Yellow Jacket Corporation for August.

	Debit	Credit
1. Equipment ............................................................................	8,800
Cash ..........................................................................................		8,800
2. Accounts Receivable .............................................................	3,200
Service Revenue ........................................................................		3,200
3. Salaries Expense ....................................................................	1,900
Cash ..........................................................................................		1,900
4. Cash .......................................................................................	1,500
Deferred Revenue .....................................................................		1,500
5. Dividends ...............................................................................	900
Cash ...........................................................................................		900

Required:

Provide an explanation for each transaction.