For each of the following transactions for the Banner Company, indicate the account that is debited, the account that is credited, and the amount for each. Choose from the account name abbreviations below AND PLEASE SPELL THEM CORRECTLY IN YOUR ANSWER or Blackboard will mark your answer wrong. CASH Cash, PPDINS Prepaid Insurance, EQ- Equipment, AD Accumulated Depreciation, UNREV = Unearned Revenue, LP Loan payalbe, IP = Interest payable,REV Service Revenue, INSEXP Insurance expense, DEPEXP = Depreciation expense, INTEXP Interest expense. 1. The Banner Company paid $1,200 for an insurance policy in December, 2017. This insurance policy covers the first six months of 2018. What will Banner record in December, 2017? a. Dr. b. Cr. 2. What will Banner record in January, 2018, related to the insurance in part (1). a. Dr. b. Cr. 3. Banner purchased equipment on January 1, 2018, for $120,000. The monthly depreciation is $1,000. What should Banner record on January 1, when the equipment is purchased? a. Dr. b. Cr.