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1. Prepare general journal entries for the following transaction of Valdez Services. a. The company paid $15,000 cash for payment on a 16-month-old liability for

1. Prepare general journal entries for the following transaction of Valdez Services.

a. The company paid $15,000 cash for payment on a 16-month-old liability for office supplies.

b. The company paid $1,300 cash for the just completed two-week salary of the receptionist.

c. The company paid $38,000 cash for equipment purchased.

d. The company paid $500 cash for this months utilities.

e. Owner (B. Valdez) withdrew $4,800 cash from the company for personal use.

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