#1 27 HBO Max Southwest spanish cul.. ACTO 211 Question 27... Business Tra what goes Home | Che M. You Saved Help Save & Exit Submit 3.03 points elock References Exercise 2-15 (Algo) Analyzing and journalizing transactions involving cash payments LO A1 Following are the transactions for Valdez Services. a. The company paid $500 cash for payment on a 2-month-old account payable for office supplies. b. The company paid $1,200 cash for the just completed two-week salary of the receptionist. c. The company paid $20,000 cash for equipment purchased. d. The company paid $700 cash for this month's utilities. e. The company paid a $5,000 cash dividend to the owner (sole shareholder). 1. Prepare general journal entries for the above transactions of Valdez Services. 2. Listed below are three reasons why a transaction would not result in an expense. Match each of the reasons to the transaction it properly describes. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare general journal entries for the above transactions of Valdez Services Check my work Required 1 Required 2 Book Prepare general journal entries for the above transactions of Valdez Services. View transaction list View journal entry worksheet prences No Transaction General Journal 1 a. Accounts payable 2 b. Salaries expense 3 C Equipment IN 7 4 d. Utilities expense IN 7 5 e. Dividends Debit Credit 500 1,200 20,000 700 5,000 Required 2 >