Problems Problem 2-1 Determine the account that should be debited as well as credited for each accounting transaction below. Use the following accounts: Cash, Accounts Receivable, Office Furniture, Supplies, Prepaid Insurance, Accounts Payable, J. Williams-Capital, J. Williams-Withdrawal, Service Revenue, Salaries Expense, Rent Expense Transactions 1. Investment by owner, J. Williams, $65,000. 2. Purchased office furniture, $10,000. 3. Performed service and received $500. 4. Purchased supplies on account, $150. 5. Received payment from an outstanding accounts receivable, $350. 6. Paid weekly salaries, $2,400. 7. Purchased 3-month insurance policy, $225. 8. Paid outstanding accounts payable, $150. 9. Paid rent for current month, $550. 10. Owner, J. Williams withdrew $50 for personal use