12. Transactions for Tom Petty Company for the month of October are presented below. Journalize each transaction. You may omit journal explanations.

1. Invested $40,000 cash in the business.

2. Purchased land costing $28,000 for cash.

3. Purchased equipment costing $12,000 for $3,000 cash and the remainder on

credit.

4. Purchased supplies on account for $800.

5. Paid $1,000 for a one-year insurance policy.

6. Received $3,000 cash for services performed.

7. Received $4,000 for services previously performed on account.

8. Paid wages to employees for $2,500.

9. Petty withdrew $1,000 cash from the business.