Review the transactions and determine the accounts, the account types (use assets, liabilities, equity, dividends, revenue, and expenses), if they increase/decrease and if they are DR/CR. Check your spelling carefully and do not abbreviate. Refer to the for account titles Provided services on account. Account Name Account Type Increase/Decrease Debit/Credit Purchase of building with note Account Name Account Type Increase/Decrease Debit/Credit Enter the following transactions as journal entries. Record debits first, then credits Received $7,000 utility bill to be paid next month Date Accounts and Explanation Debit Credit Nov. Utilities Expense 7,000 Utilities Payable 7,000 Prepaid $9,000 for a one year insurance policy Date Accounts and Explanation Debit Credit Nov. 4