1. basic type , specific account, effect, basic type, specific account, effect

View Policies Current Attempt in Progress Riko Ltd. has the following selected transactions: . 1. Issued common shares to shareholders in exchange for $5,000. 2. Paid rent in advance for two months, $2,100. . 3. Paid administrative assistant $500 salary. 4. Billed clients $1,200 for services provided. 5. Received $900 in partial payment from clients for services provided in item 4 above. . 6. Purchased $500 of supplies on account. 7. Paid supplier amount owing on account, $500. . 8. Borrowed $1,000 cash from the bank. . For each transaction, indicate (a) the basic type of account debited and credited (asset, liability, shareholders' equity); (b) the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); and (c) whether the specific account is increased or decreased to record this transaction. Use the following format. Account Debited A (a) a (b) (c) ( (a) Specific Account Transaction Basic Type Effect Basic Type 1. Asset Cash > Increase Shareholders' Equity 2. Asset Prepaid Rent > Decrease > Asset 3. 3 Shareholders' Equity Decrease Asset 4. > 5.