The following are independent transactions for different businesses.

1.		Lagace Enterprises signs a $25,300 note and gives cash of $2,800 to a supplier in exchange for equipment it purchased June 1. The term of the note is one year and the interest rate is 8% due at maturity.
2.		Mowat Consultants orders supplies on July 4 and agrees that it will pay $1,330 within 30 days from the date of delivery. Delivery is expected in 7 days.
3.		Meagher Manufacturing purchases a parcel of land for $148,500 cash on August 15. An appraiser for Meagher valued the land at $149,400.
4.		Shak Insurance Co. receives $4,300 cash on Feb. 1 from a customer Larson Repairs Ltd. for coverage for a one-year policy. Answer from the point of view of Shak Insurance Co.
5.		Shak Insurance Co. receives $4,300 cash on Feb. 1 from a customer Larson Repairs Ltd. for coverage for a one-year policy. Answer from the point of view of Larson Repairs Ltd.

For each transaction, indicate the basic type of account debited/credited (asset, liability, owner’s equity), specific account debited/credited, the effect of a debit/credit on the account, and the amount. (If an amount decreases the balance of Asset, Liability or Owner’s equity then enter with negative sign e.g. -15,000 or in parenthesis e.g. (15,000). Select NA for No Entry.)

Date					Basic Type		Increase/Decrease		Specific Account		Amount
June	1		Debit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA				$
			Credit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA
			Credit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA
July	4		Debit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA
			Credit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA
Aug.	15		Debit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA
			Credit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA
Feb.	1		Debit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA
			Credit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA
Feb.	1		Debit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA
			Credit		AssetLiabilityOwner’s EquityNA		IncreaseDecreaseNA