DEBIT Account First DEBIT Account Name DEBIT Dollar Amount CREDIT Account CREDIT Account Name CREDIT Dollar Amount EACH journal entry requires a brief explanation; see the example below DR (abbreviation for Debit) Cash 150,000 CR (Abbreviation for Credit) Stockholders Equity 150,000 - Original investment by stockholder; $150,000 received Prepare the necessary Journal Entry to record the following transaction: Otto Enterprise sold merchandise sales in the amount of $15,400; these sales were paid in cash. Edit View Insert Format Tools Table 12pt v Paragraph Av Tv