1. For each of the following accounts indicate the (a) type of account, effect (Increase/Decrease) of (b) a debit or (c) credit on the account, and (c) do we expect a final debit or credit balance in the account (Normal Balance). Account (a) Type of Account (b) Effect of Debit (c) Effect of Credit (d) Normal Balance Accounts Receivable Salary Payable Rent Expense "Owner", Capital Accounts Payable Office Supplies Salary Expense Cash Office Supplies Expense "Owner", Drawing Service Revenue Equipment 2. Below is information related to Hawkins Real Estate Agency. By going through the same process as you did in Exercise #1, think about what happened to the accounts because of the transaction (like you did in Chapter 1) and then journalize the transactions in proper journal entry format-the account name(s) and amount(s) to be debited always go first, the account name(s) and amount(s) to be credited go second and are indented. See examples in text. Skip line between entries. Do not separate an entry between 2 journal pages. (Omit explanations) Oct 1 Peter Hawkins, the owner, begins the business with a $25,000 cash investment. Oct 1 Paid $2,000 office rent for October. Oct 3 Peter Hawkins invested one of his computers with a Fair Market Value (FMV) of $2,000, (Office Equipment). Oct 6 Sold a house and lot for B. Kidman; bills B. Kidman for realty services provided, $7,000. (Realty Fees Revenue) Oct 14 Purchased office equipment for $2,600 on account. Oct 15 The company hires an administrative assistant Oct 20 Received half the amount owed from customer B. Kidman. Remainder to be received next month. Oct 27 Paid $700 on the balance due from Oct 14 purchase. Oct 31 Paid the administrative assistant in salary for last half of October, $2,500. Page 1 Date Name of Account Debit Amount Credit Amount