1 Received $56,000 from stockholders. 2. 3. 4. Purchased equipment for $87,000, paying $13,500 in cash and giving a note payable for the remainder. Paid $2,500 rent for the month. Recorded $14,100 of services provided on account. 5. Paid wages of $8,200. 6. Received $7,400 in cash for services provided. 7. Collected $1,800 from customers on account. No Account Titles and Explanation 1. 2. Debit Credit