Identify and explain steps in recording process. (LO 3) Indicate basic and debit-credit analysis. (LO 2) BE2-4 Tim Weber, a fellow student, is unclear about the basic steps in the record- ing process. Identify and briefly explain the steps in the order in which they occur. BE2-5 J.A. Motzek SA has the following transactions during August of the current year. Indicate (a) the effect on the accounting equation and (b) the debit-credit analysis illus- trated on pages 65-70. Aug. 1 Opens an office as a financial advisor investing R$5,000 in cash in exchange for ordinary shares. 4 Pays insurance in advance for 6 months, R$1,800 cash. 16 Receives R$1,100 from clients for services performed. 27 Pays secretary R$1,000 salary. BE2-6 Using the data in BE2-5, journalize the transactions. (You may omit explanations.) Journalize transactions