1. Identify the accounts to be debited and credited for each of the following transactions. Invested $8,000 cash in the business in exchange for stock. Purchased supplies on account for $1,000. Billed customers $2,000 for services performed. Paid salaries of $1,200. 2. 3 4. Transaction No. Account Debited Account Credited 1. Common Stock 2. 3. Accounts Receivable 4