For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the double-entry accounting system: Transaction: James Company received and paid bill for insurance policy premium covering the next six months, $2,000. Which two accounts are affected? Insurance Expense Accounts Payable What kind of accounts are they Choose one Choose one Do the account balances Increase or decrease? Increase Decrease Increase Decrease Do we debitor credit the accounts? Debit Credit Debit Credit x 5