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Record the following transactions as journal entries. Purchased $7,000 of equipment on account. Date Accounts and Explanation Debit Credit Nov. 3 Bright, the owner, contributed

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Record the following transactions as journal entries. Purchased $7,000 of equipment on account. Date Accounts and Explanation Debit Credit Nov. 3 Bright, the owner, contributed $9,000 in exchange for capital. Date Accounts and Explanation Debit Credit Nov. 4. Paid $7,000 for repairs to the company truck Date Accounts and Explanation Debit Credit Nov. 5

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