Selected transactions for Culver, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $16,300 in cash. 2. Purchased used car for $10,400 cash for use in business. 3. Purchased supplies on account for $310. 4. Billed customers $5,620 for services performed. 5. Paid $300 cash for advertising at the start of the business. 6. Received $1,460 cash from customers billed in transaction (4). 7. Paid creditor $330 cash on account. 8. Paid dividends of $320 cash to stockholders. (a) Your answer has been saved. See score details after the due date. For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); whether the specific account is increased or decreased; and the normal balance of the specific account. Account Debited Account Credited No. Basic Type Specific Account Effect Normal Balance Basic Type Specific Account Effect Normal Balance 1. Asset Cash Increase Debit Stockholders Equity Common Stock Increase Credit 2. choose a basic type Asset choose a specific account Equipment select between increase and decrease Increase select between debit and credit Debit choose a basic type Asset choose a specific account Cash select between increase and decrease Decrease select between debit and credit Debit 3. choose a basic type Asset choose a specific account Supplies select between increase and decrease Increase select between debit and credit Debit choose a basic type Liability choose a specific account Accounts Payable select between increase and decrease Increase select between debit and credit Credit 4. choose a basic type Asset choose a specific account Accounts Receivable select between increase and decrease Increase select between debit and credit Debit choose a basic type Asset choose a specific account Service Revenue select between increase and decrease Increase select between debit and credit Credit 5. choose a basic type Liability choose a specific account Advertising Expense select between increase and decrease Increase select between debit and credit Debit choose a basic type Asset choose a specific account Cash select between increase and decrease Decrease select between debit and credit Debit 6. choose a basic type Asset choose a specific account Cash select between increase and decrease Increase select between debit and credit Debit choose a basic type Asset choose a specific account Accounts Receivable select between increase and decrease Decrease select between debit and credit Debit 7. choose a basic type Liability choose a specific account Accounts Payable select between increase and decrease Decrease select between debit and credit Credit choose a basic type Asset choose a specific account Cash select between increase and decrease Decrease select between debit and credit Debit 8. choose a basic type Stockholders Equity choose a specific account Cash select between increase and decrease Decrease select between debit and credit Credit choose a basic type Asset choose a specific account Cash select between increase and decrease Decrease select between debit and credit Debit Attempts: 1 of 1 used (b) Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. enter an account title to record the first transaction enter a debit amount enter a credit amount enter an account title to record the first transaction enter a debit amount enter a credit amount 2. enter an account title to record the second transaction enter a debit amount enter a credit amount enter an account title to record the second transaction enter a debit amount enter a credit amount 3. enter an account title to record the third transaction enter a debit amount enter a credit amount enter an account title to record the third transaction enter a debit amount enter a credit amount 4. enter an account title to record the fourth transaction enter a debit amount enter a credit amount enter an account title to record the fourth transaction enter a debit amount enter a credit amount 5. enter an account title to record the fifth transaction enter a debit amount enter a credit amount enter an account title to record the fifth transaction enter a debit amount enter a credit amount 6. enter an account title to record the sixth transaction enter a debit amount enter a credit amount enter an account title to record the sixth transaction enter a debit amount enter a credit amount 7. enter an account title to record the seventh transaction enter a debit amount enter a credit amount enter an account title to record the seventh transaction enter a debit amount enter a credit amount 8. enter an account title to record the eighth transaction enter a debit amount enter a credit amount enter an account title to record the eighth transaction enter a debit amount enter a credit amount