Question 5 View Policies Current Attempt in Progress Selected transactions for Ayayai, an interior decorator corporation, in its first month of business, are as follows. 1. Issued stock to investors for $16,500 in cash. 2. Purchased used car for $10.200 cash for use in business. 3. Purchased supplies on account for $250. 4. Billed customers $3,790 for services performed. 5. Paid $130 cash for advertising at the start of the business. 6. Received $1,770 cash from customers billed in transaction (4). 7. Paid creditor $220 cash on account. 8. Paid dividends of $320 cash to stockholders. For each transaction indicate the basic type of account debited and credited (asset, liability, stockholders' equity); the specific account debited and credited (Cash, Rent Expense, Service Revenue, etc.); whether the Account Debited Account Credited No. Basic Type Specific Account Effect Effect Normal Balance Asset Specific Account Common Stock Cash Normal Balance Debit Credit Basic Type Stockholders' Equity Stockholders' Equity Increase Increase Increase Credit ci Stockholders' Equity Cash Dividends Debit o Advertising Expense wi Asset N o Increase eTextbook and Media 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 Debit Credit 1. - 2. 5. 7. 8. eTextbook and Media List of Accounts