Problem #2 A company has the following transactions during June: June 2 Provide services to customers for cash, $4,300 June 8 Purchase office supplies on account, $1,000 June 11 Pay workers' salaries for the current period, $1,400 June 15 Issue additional shares of common stock, $6,000 June 28 Pay one-half of the amount owed for supplies purchased on June 8, $500 Required: For each transaction, identify (1) the two accounts involved, (2) the type of account, (3) whether the transaction increases or decreases the account balance, and (4) whether the increase or decrease would be recorded with a debit or credit. Solution: Increase or Decrease Account Type Debit or Credit Date June 2 Accounts Involved June 8 June 11 June 15 June 28