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Current Attempt in Progress For each of the following accounts indicate the effects of a debit and a credit on the accounts and the normal balance of the account. Pharoah Company has the following transactions during August of the current year. Aug. 1 Opens an office as a financial advisor, investing $5,300 in cash in exchange for common stock. 4 Pays insurance in advance for 6 months, $1,900 cash. 16 Receives $1,600 from clients for services performed. 27 Pays secretary $1,810 salary. Journalize the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts