3 0.3 points eBook Print References O'Brien Construction had the following business activities: 1. Stockholders invest $62,000 cash in the corporation. 2. O'Brien purchased $470 of office supplies on credit. 3. O'Brien purchased office equipment for $7,000, paying $4,100 in cash and signing a 30-day notes payable for the remainder 4. O'Brien paid $235 cash on account for office supplies purchased in transaction 2. 5. O'Brien purchased two acres of land for $21,000, signing a 2-year notes payable. 6. O'Brien sold one acre of land at one-half of the total cost of the two acres, receiving the full amount or $10,500 in cash. 7. O'Brien made a payment of $10,500 on its 2-year note. Required: Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < B C D E F G Record the entry for investment of $62,000 cash in the corporation by stockholders. Note: Enter debts before credits Transaction 1 General Journal Debit Credit Racord entry Clear entry View general journal Book Print ferences 6. O'Brien sold one acre of land at one-half of the total cost of the two acres, receiving the full amount or $10,50 7. O'Brien made a payment of $10,500 on its 2-year note. Required: Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A C DE F G Record the entry for the purchase of supplies on credit for $470. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal int ences Required: Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction/ Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A B D E F G Record the entry for the purchase of office equipment for $7,000, paying $4,100 in cash and signing a 30-day note payable for the remainder. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit Record entry Clear entry View general journal Print References Required: Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transactio Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A B C E F G Record the entry for the payment of $235 cash on account for office supplies purchased in transaction 2. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Record entry Clear entry Print References Mc Graw Required: Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transacti Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet > A B C D L F G Record the entry for the purchase two acres of land for $21,000, signing a 2- year note payable. Note: Enter debits before credits. Transaction 5 General Journal Debit Credit View general journal Record entry Clear entry < Prev www 3 of 49 eBook one acre of land at one-half of the total cost of the two acres, receiving the full am Print 7. O'Brien made a payment of $10,500 on its 2-year note. Required: Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction. Journal Entry Required" in the first account field.) References View transaction list Journal entry worksheet rint rences Required: Prepare the journal entries that would be used to record the transactions. (If no entry is required for a transaction/ Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < A B C D E F Record the entry for the payment of $10,500 on its 2-year note. Note: Enter debits before credits. Transaction 7 General Journal Debit Credit Record entry Clear entry View general journal