Selected transactions for Good Home, a property management company, in its first month of business, are as follows: Instructions
For each transaction indicate the following.
(a) The basic type of account debited and credited (asset (A), liability (
L), stockholders' equity (S
E)). (b) The specific account debited and credited (cash, rent expense, service revenue, etc.). (c) Whether the specific account is increased (incr.) or decreased (decr). (d) The normal balance of the specific account. Use the following format, in which the January 2 transaction is given as an example.

Question

Selected transactions for Good Home, a property management company, in its first month of business, are as follows:  Instructions
For each transaction indicate the following.
(a) The basic type of account debited and credited (asset (A), liability (
L), stockholders' equity (S
E)). (b) The specific account debited and credited (cash, rent expense, service revenue, etc.). (c) Whether the specific account is increased (incr.) or decreased (decr). (d) The normal balance of the specific account. Use the following format, in which the January 2 transaction is given as an example.

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The Answer of Selected transactions for Good Home, a property management company, in its first month of business, are as follows:  Instructions
For each transaction indicate the following.
(a) The basic type of account debited and credited (asset (A), liability (
L), stockholders' equity (S
E)). (b) The specific account debited and credited (cash, rent expense, service revenue, etc.). (c) Whether the specific account is increased (incr.) or decreased (decr). (d) The normal balance of the specific account. Use the following format, in which the January 2 transaction is given as an example.

Selected Transactions for Good Home, a Property Management Company, in Its