For each item below, indicate whether a debitor credit applies. 1. Decrease in Notes Payable 2. Increase in Dividends Debit 3 Increase in Common Stock 4. Increase in Unearned Rent Revenue 5. Decrease in Interest Payable 6. Increase in Prepaid Insurance 7 Decrease in Salaries and Wages Expense Decrease in Supplies 8. 9. Increase in Revenues 10. Decrease in Accounts Receivable Credit On April 1, Larkspur, Inc. began operations. The following transactions were completed during the month. 5. 1. Issued common stock for $23,500 cash. 2. Obtained a bank loan for $6,900 by issuing a note payable. 3. Paid $10,800 cash to buy equipment. 4. Paid $1,200 cash for April officerent. Paid $1,400 for supplies. 6. Purchased $590 of advertising in the Daily Herald, on account. 7. Performed services for $17,600: cash of $1,960 was received from customers, and the balance of $15,640 was billed to customers on account 8. Paid $390 cash dividend to stockholders. Paid the utility bill for the month $1,960. 10. Paid Daily Herald the amount due in transaction (6). 11. Paid $40 of interest on the bank loan obtained in transaction (2). Paid employees' salaries, $6,270. Received $11.760 cash from customers billed in transaction (7). Paid income tax, $1,470. 9 12 13. 14. Journalize the transactions. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Account Titles and Explanation Credit Debit 1