Owner contributed $7,000 in furniture in exchange for common stock Date Accounts and Explanation Debit Credit Nov. 3 Paid $7,000 for repairs to the company truck Date Accounts and Explanation Debit Credit Nov. 4 Paid $5,000 cash for rent. Date Accounts and explanation Debit Credit Nov. ORI a 73F Sunny Paid $6,000 for advertising in the local paper Date Accounts and explanation Debit Credit Nov.5 Collected $7,000 cash for future services Date Credit Debit Accounts and explanation Nov.5