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For each of the following transactions, determine if the account name in parentheses should be debited or credited: paid dividends (cash), $7,000 b....

3. For each of the following transactions, determine if the account name in parentheses should be debited or credited:
a. paid dividends (cash), $7,000
b. paid insurance in advance (prepaid expenses), $800
c. received payment from customer on account due (accounts receivable), $1,100
d. sold merchandise (inventory), $900
e. borrowed money from Clover bank (Notes Payable), $14,000
f. paid $2500 attorney fees owed to Smith and Jones (Accounts Payable)

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