CP 2-3 Required: Record the debit and credit for each of the following transactions (transaction 1...

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CP 2-3 Required: Record the debit and credit for each of the following transactions (transaction 1 is done for you): I Assets Debit Credit (inc.) (dec.) 10,000 Liabilities Debit Credit (dec.) (inc.) + Equity Debit Credit (dec.) (inc.) 10,000 1. Purchased a $10,000 truck on credit 2. Borrowed $5,000 cash from the bank 3. Paid $2,000 of the bank loan in cash 4. Paid $600 in advance for a one-year Insurance policy 5. Received $500 in advance from a renter for next month's rental of office space. CP 2-3 Required: Record the debit and credit for each of the following transactions (transaction 1 is done for you): I Assets Debit Credit (inc.) (dec.) 10,000 Liabilities Debit Credit (dec.) (inc.) + Equity Debit Credit (dec.) (inc.) 10,000 1. Purchased a $10,000 truck on credit 2. Borrowed $5,000 cash from the bank 3. Paid $2,000 of the bank loan in cash 4. Paid $600 in advance for a one-year Insurance policy 5. Received $500 in advance from a renter for next month's rental of office space.