1. Journalize the following selected transactions for January. Explanations may be omitted. Jan. 1 Issued common stock in exchange for $14,000 cash. 2 Received cash for providing accounting services, $9,500. 3 Billed customers for services provided on account, $4,200. 4 Paid advertising expense, $700. 5 Received cash from customers on account, $2,500. 6 Paid dividends, $1,010. 7 Purchased supplies on account, $500. 8 Paid utility (telephone) bill, $900