Problem:
Prepare the journal entry to record each of the following independent transaction. (Use the number of the transaction in lieu of a date for identification purposes.)
1. Services provided on account of $1,530
2. Purchase of supplies on account for $1,365
3. Service provided for cash $750
4. Purchase of equipment for cash of $4,240
5. Issuance of a promissory note for $2,500
6. Collections on account for $890
7. Sale of capital stock in exchange foa parcel of land is appraised at $50,00
8. Payment of $4,000 in salaries and wages
9. Payment of open account in the amount of $500