Question 5 Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. 2. 3. 4. 5. 6. 7. 8. Issued stock to investors for $16,500 in cash. Purchased used car for $10,200 cash for use in business. Purchased supplies on account for $250. Billed customers $3,790 for services performed. Paid $130 cash for advertising start of the business. Received $1,770 cash from customers billed in transaction (4). Paid creditor $220 cash on account. Paid dividends of $320 cash to stockholders. For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); whether the specific account is increased or decreased; and the normal balance of the specific account. Basic Type No. 1. Asset Account Debited Specific Account Cash Effect Increase Normal Balance Debit Basic Type Stockholders' Equity Account Credited Specific Account Common Stock Effect Increase Normal Balance Credit Journalize the transactions. (If no entry is required, select "No Entry" for the account tities and enter amount is entered. Do not indent manually.) for the amounts. Credit account titles are automatically indented when No. Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work