1. Review the transactions and determine the accounts, the account types (use assets; liabilities; owner, capital; owner, withdrawals; revenue; and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry.

Received cash for services rendered to a client Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Purchased ofce supplies on account 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 V Account #2 Account Type Increase/Decrease Debit/Credit V Paid for a one year insurance policy Account #1 Account Type Increase/Decrease Debit/Credit V Account #2 Account Type Increase/Decrease Debit/Credit V Paid cash for salaries Account #1 Account Type Increase/Decrease Debit/Credit V Account #2 Account Type Increase/Decrease Debit/Credit VPaid $9,000 for a one year insurance policy Date Accounts and Explanation Debit Credit Nov. 3 Bright, the owner, contributed $5,000 of furniture in exchange for capital. Date Accounts and Explanation Debit Credit Nov. 4 Received $7,000 on account from a customer. Date Accounts and Explanation Debit Credit Nov. 5 Collected $8,000 cash for future services Date Accounts and Explanation Debit Credit Nov. 5Purchased $8,000 of office supplies on account. Date Accounts and Explanation Debit Credit Nov. 5