Transaction 1. You buy $2,000 of advertising in the local newspaper and will pay them back in 30 days

Transaction 2. A bank decides to invest $100,000 in your venture. You owe $10,000 of that loan within 1 year and the rest in years 2-10.

What are the accounting transactions for these activities? For each line, make sure you identify: -debit vs credit -what account is being debited/credited -how much should be debited/credited