a4) On September 30 of the prior year, the company paid $3,384 for a 24 month insurance policy. Describe the effects of this transaction on the accounting equation in terms of debits and credits Assets Liabilities Prepare the appropriate journal entry for this transaction Account Name Debit Credit a5) The company received a bill for unpaid utilities for the year of $8,076. Describe the effects of this transaction on the accounting equation in terms of debits and credits Assets Liabilities Prepare the appropriate journal entry for this transaction Account Name Debit Credit Equity Equity