Determine Whether Each of the Following Events Are Asset Source

Essay

Determine whether each of the following events are asset source (AS), asset use (AU), asset exchange (AE), or claims exchange (CE) transactions.Borrowed $6,000 from creditorsIssued common stock to investors for $8,000 cashPaid one year's rent in advanceProvided services to customers and received $35,000 cashPaid creditors $10,000Received $3,000 of revenue in advanceProvided services to customers on account, $12,000Collected $2,000 from accounts receivableRecognized accrued salary expense of $2,000Adjusted the records for supplies used of $800