Answer
(a)June 01 Debit: Cash account $\$5000$
Credit: Common Stock account $\$5000$
(b) Debit: Property Plant and Equipment account $\$1,100$
Credit: Cash account $\$100$
(c) Debit: Rent Expense account $\$500$
Credit: Cash Account $\$500$
(d) Debit: Receivable account $\$700$
Credit: Revenue account $\$700$
Work Step by Step
(a)Cash is received against stock issued
(b) Long-term asset is purchased for cash (it is assumed that cash was paid instantly)
(c) Rental Expense of $500
(d) Bill was sent, which means that cash is not yet received, so debit receivables account.
