1. Journalize and Post the following transactions for the Peony Company for the month of October. Shareholders invested $36,000 of cash in the business. Purchased land costing $18,000 with cash. Purchased equipment costing $9,000 for $4,000 cash and the remainder on credit. Purchased supplies on account for $800. Paid $3,000 for a one year insurance policy. Received $2,000 for services performed. Received $4,000 for services to be delivered next month. Paid $2,500 of wage to employee. 2. With the information given, write the necessary entries for each of the following cases. On January 1 office supplies of $700 were acquired on credit. On January 31, a count of office supplies reveals that $600 are on hand. Make proper entries on January 1 and January 31. On January 1, a landlord receives $600 from a tenant as an advance for three months' rent. Make proper entries on January 1 and January 31. On January 1, the company borrows $10,000 from a bank for one year at a 15 percent interest rate. The interest for one year is $1,500($10,000x15%). For the month of January, accrued interest expense on the loan comes to $125 ($1,500/12). Make the appropriate adjusting entry on January 31. The last payroll date was January 28. The next payroll date is February 11. For the last few days of the month(January 29 January 31), the company owes its employees $500 in salaries. Make the appropriate journal entry for accrued salaries. A landlord has not received January rent of $300 from a tenant. Make the proper adjusting entry at the end of January. Focu