Problem:
1. Cycle Tours Co. is a travel agency. The nine transactions recorded by Cycle Tours during February 2010, its first month of operations, are indicated in the following T accounts:
2. Indicate for each debit and each credit:
(a) Whether an asset, liability, capital stock, dividend, revenue, or expense account was affected and
(b) Whether the account was increased (+) or decreased (-). Present your answers in the following form, with transaction (1) given as an example:
