Record the following transactions as journal entries. Bright, the owner, invested $7,000 in the business in exchange for capital. Date Accounts and Explanation Debit Credit Nov. 3 Paid $9,000 for a one year insurance policy Date Accounts and Explanation Debit Credit Nov. 4 Received $7,000 for services rendered to a client Date Accounts and Explanation Debit Credit Nov. 5 Purchased $5,000 of equipment on account. Date Accounts and Explanation Debit Credit Nov.5 Bright, the owner, contributed $5,000 exchange for capital. Date Accounts and Explanation Debit Credit Nov. 5