Selected transactions for Allie Mane, an interior decorator, in her first month of business, are as follows:Jan. 2 Invested $10,000 cash in business.3 Purchased used car for $3,000 cash for use in business.4 Purchased a one-year insurance policy for $1,200.9 Purchased supplies on account for $500.18 Paid creditor $300 cash on balance owed.28 Withdrew $1,000 cash for personal use by owner.

InstructionsFor each transaction, indicate the following:a. The equation element to be debited and credited (asset, liability, owner?s equity).b. The specific account to be debited and credited (Cash, Accounts Payable, Owner?s Drawings, etc.).c. Whether the specific account is increased or decreased.d. The normal balance of the specific account.Use the following format, in which the January 2 transaction is given as an example.

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Account Debited (b) (c) Account Credited (c) (d) (d) (b) (a) (a) Basic Specific Account Normal Basic Type owner's equity Specific Normal Effect Account Date Balance credit Type asset Balance Effect debit Owner's increase Jan. 2 Cash increase Capital