Question: Analyzing revenue, expense, and withdrawal transactions into debit and credit parts T accounts are given in the Working Papers. Work this problem independently. Use the chart of accounts for Hoffman Accounting Service in On Your Own 2-2
1. Prepare two T accounts for each transaction. On each T account, write the account title of one of the accounts affected by the transaction.
2. Write the debit or credit amount in each T account to show the transaction's effect.