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 Chart of Accounts for account titles. Purchase of building with note. Account Name Account Type Increase/Decrease Debit/Credit Paid for advertising in the local paper. Account Name Account Type Increase/Decrease Debit/Credit Received cash from selling shares of stock. Account Name Account Type Increase/Decrease Debit/Credit Enter the following transactions as journal entries. Record debits first, then credits. Purchased $8,000 of equipment on account. Date Accounts and Explanation Debit Credit Nov. 3 Paid $5,000 cash for land. Date Accounts and Explanation Debit Credit Nov. 4