Question: For each transaction given, enter a debit and a credit to reflect the increases and decreases of the assets, liabilities, and stockholders' equity accounts. In

For each transaction given, enter a debit and a credit to

For each transaction given, enter a debit and a credit to reflect the increases and decreases of the assets, liabilities, and stockholders' equity accounts. In some cases there may be a Debit and a Credit in the same box. Transactions Assets Liabilities Common stock 1. Invests cash in exchange for stock. 2. Pays insurance in advance for six months. 3. Pays secretary's salary. 4. Purchases supplies on account. 5. Pays electricity bill. 6. Borrows money from local bank.

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