25,000 to form tno issued 1,000 shares of common stock. 2. Paid $3,645 cash on February 2 for three months' rent for office space. TIP: For convenience, simply record the full amount of the payment as an asset (Prepaid Rent). At the end of the month, this account will be adjusted to its proper balance. 3. Purchased supplies on February 3 for $320 cash. Secory note on February 4, pyeble in two years, deposited 518,600 m he company's bank account. 5. On February 5, purchased equipment for $4,600 and land for $14,000. 6. Placed an advertisement in the local paper on February 6 for $765 cash. 7. Recorded sales on February 7 totaling $3,900, $1,760 was in cash and the rest on accounts receivable. 8. Collected accounts receivable of $135 from customers on February 8 9. On February 9, repaired one of the computers for $158 cash. 10. Incurred and paid employee wages on Fobruary 28 of $680. TIP: Most repairs involve oosts that do not provide additional future economic benefits Required 1. Prepare the joumal entry for each of the above transactions. (f no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field View transaction list View journal entry worksheet No Transaction General Journal Debit Credit No Transaction Recorded 2Prepaid Rent 3,645 Cash 3,645 Cash Cash 18,600 Notes Payable (long-term) 18,600 Equipment Land 4,600 14,000 Cash 9.400 Advertiaing Expense 765 Cash 785 Cash 1,760 Accounts Receiv esc