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