1 Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Paid for a one year insurance policy Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Received cash from selling shares of stock Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Prepaid for rent. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit https://act.pearsoncmg.com/test-out/2 PROVE MASTERY: 2 PARTS 1/3 Paid cash for salaries Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Accrued liability for utilities. Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit 2 Record the following transactions as journal entries. Received $8,000 utility bill to be paid next month Date Nov. 3 Accounts and Explanation Made a $9,000 payment on notes payable Date Nov. 4 Debit Credit Accounts and Explanation Debit Credit Paid $5,000 cash for rent. Date Accounts and Explanation Debit Credit Nov. 5 #ps://ect nearsonoma.com/test out/2. PROVE MASTERY: 2 PARTS 2/12