RECOMMENDED!!Transactions for the Tage Oslo Company for the month of June are

  

Transactions for the Tage Oslo Company for the month of June are presented below.June 1Tage Oslo invests $5,000 cash in a small welding business of which he is the sole proprietor.2Purchases equipment on account for $2,400.3$800 cash is paid to landlord for June rent.12Sends a bill to J. Kronsnoble for $300 for welding work performed on account.Identify the accounts to be debited and credited for each transaction.Account DebitedAccount CreditedJune 1EquipmentCashInvestmentDepreciation ExpenseAccounts ReceivableRent RevenueOwner’s CapitalAccounts PayableRent ExpenseService RevenueOwner’s CapitalCashAccounts ReceivableEquipmentService RevenueDepreciation ExpenseAccounts PayableRent ExpenseRent RevenueInvestment2Rent ExpenseRent RevenueAccounts PayableAccounts ReceivableEquipmentService RevenueInvestmentCashDepreciation ExpenseOwner’s CapitalCashDepreciation ExpenseAccounts PayableRent ExpenseEquipmentInvestmentAccounts ReceivableService RevenueOwner’s CapitalRent Revenue3EquipmentRent ExpenseService RevenueRent RevenueAccounts PayableInvestmentCashDepreciation ExpenseAccounts ReceivableOwner’s CapitalRent ExpenseService RevenueDepreciation ExpenseOwner’s CapitalAccounts ReceivableRent RevenueInvestmentCashEquipmentAccounts Payable12