Paid $5,000 cash for salaries Date Accounts and Explanation Debit Credit Nov. 3 Prepaid $5,000 cash for rent. Date Accounts and Explanation Debit Credit Nov. 4 Received $6,000 from selling shares of stock Date Accounts and Explanation Debit Credit Nov. 5 Received $8,000 on account from a customer. Date Accounts and Explanation Debit Credit Nov.5 Paid $7,000 for a one year insurance policy Date Accounts and Explanation Debit Credit Nov.5