Review the transactions and determine the accounts, the account types (use assets, liabilities, common stock, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. List accounts in order they would be in the journal entry. Paid for a one year insurance policy Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Common stock was issued to stockholders for cash Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid for repairs to the company truck Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Paid cash for salaries Account #1 Account Type Increase/Decrease Debit/Credit Account #2 Account Type Increase/Decrease Debit/Credit Record the following transactions as journal entries. Collected $8,000 cash for future services Date Accounts and explanation Debit Credit Nov. 3 Prepaid $7,000 cash for rent. Date Credit Debit Accounts and Explanation Nov. 4 Purchased office furniture for $9,000 on account Accounts and explanation Date Debit Credit Now: 5 Received $8,000 for services rendered to a client Date Accounts and explanation Debit Credit Nov.5 Paid $9,000 for repairs to the company truck Date Accounts and explanation Debit Credit Nov.5