Selected transactions for Front Room, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $15,000 in cash 2 Purchased used car for $10,000 cash for use in business. 3. Purchased supplies on account for $300. 4. Billed customers $3,700 for services performed. 5. Paid $200 cash for advertising at the start of the business 6. Received $1,100 cash from customers billed in transaction (4). 7. Paid creditor $300 cash on account. 8. Paid dividends of $400 cash to stockholders. (a) 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 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. No. 1. Asset 2. 3. 4. 5. 6. 7 Basic Type > Account Debited Specific Account Cash Effect Normal Balance Basic Type Increase Debit Stockholders' Equity