Current Attempt in Progress The following are independent transactions for different businesses, 1. Lagace Enterprises signs a $26,300 note and gives cash of $2,600 to a supplier in exchange for equipment it purchased June 1. The term of the note is one year and the interest rate is 8% due at maturity, 2. Mowat Consultants orders supplies on July 4 and agrees that it will pay $1.520 within 30 days from the date of delivery Delivery is expected in 7 days. 3. Meagher Manufacturing purchases a parcel of land for $144,800 cash on August 15. An appraiser for Meagher valued the land at $169,200 4. Shak Insurance Co, receives $4.900 cash on Feb. 1 from a customer Larson Repairs Ltd. for coverage for a one-year policy. Answer from the point of view of Shak Insurance Co. 5. Shak Insurance Co, receives $4,900 cash on Feb. 1 from a customer Larson Repairs Ltd. for coperage for a one-year policy Answer from the point of view of Larson Repairs Ltd. For each transaction. Indicate the basic type of account debited/credited (asset, liability, owner's equity), specific account debited/credited the effect of a debit/credit on the account, and the amount. (if an amount decreases the balance of Asset, Liability or Owner's equity then enter with negative signes. -15,000 or in parenthesis es (15,000). Select NA for No Entry) Date Basic Type Increase/Decrease Specific Account June 1 Debit Credit Credit Credit July 4 Debit V Credit Feb. C 1 C Debit > Credit >> Feb. 1 Debit Credit