For each of the following business transactions indicate the title of the accounts effected, the type of account: Asset, Liability, or Stockholders' Equity, and whether the account was increased or decreased. (If no entry is required, select "No Entry" for the account titles.) 1. 2. 3. Owner invested $60,000 in exchange for common stock of the corporation Hired an employee to be paid $400 per week, starting tomorrow. Paid two years' rent in advance, $7,200. Paid the worker's weekly wages. Recorded service revenue earned and received for the week, $1,500. 4. 5. Trans. Account Title Type of Account Increase Decrease 1. Cash Asset X v Common Stock Stockholder's Equity 2.