Problem 3-1 Events to Be Recorded in Accounts

The following events take place at Dillon’s Delivery Service:

1.        Supplies are ordered from vendors who will deliver the supplies within the week.

2.        Vendors deliver supplies on account, payment due in 30 days.

3.        Customers’ deliveries are made, and the customers are billed.

4.        Trash is taken to dumpsters, and the floors are cleaned.

5.        Cash is received from customers billed in (3).

6.        Cash is deposited in the bank night depository.

7.        Employees are paid weekly paychecks.

8.        Vendors noted in (2) are paid for the supplies delivered.

Required

Identify each event as internal (I) or external (E) and indicate whether each event would or would not be recorded in the accounts of the company. For each event that is to be recorded, identify the names of at least two accounts that would be affected.