Required: Record the debit and credit for each of the following transactions (transaction 1 is done for you): Assets Liabilities Equity Debit Credit Debit Credit Debit Credit (increase) (decrease) (decrease) (increase) (decrease) (increase) 10,000 10,000 1. Purchased a $10,000 truck on credit. 2. Borrowed $5,000 cash from the bank. 3. Paid $2,000 of the bank loan in cash. 4. Paid $600 in advance for a one-year insurance policy 5. Received $500 in advance from a renter for next month's rental of office space. Given the journal entries below. write an explanation of the event that created the transaction. a. Cash 15,000 Common Shares 15,000 b. Automobile 20,000 Note Payable 15,000 Cash 5.000 Accounts 1,000 Receivable N Service Revenue 1.000 d. Dividends 500 Cash 500 e Accounts Payable 1.500 Cash 1,500 f. Salary Expense 1.875 Cash 1.875