$7 ILIU. Question 8 (20 points) Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. Answer in this format: "1. Cash DR 240, Accounts Receivable CR 240" (There are 2 spaces after the period following the question number.) 1. Stockholders invest $25,000 in cash in starting a real estate office operating 2. Purchased $500 of supplies 3. Purchased equipment for $15,000, paying $3,500 in cash and signed a 30-day, $11,500, note payable. 4. Real estate commissions billed to clients amount to $4,000. 5. Paid $700 in cash for the current month's rent. as a corporation. on credit. 6. Paid $250 cash on account for office supplies purchased in transaction 2. 7. Received a bill for $800 for advertising for the current month. 8. Paid $2,500 cash for office salaries. 9. Paid $1,200 cash dividends to stockholders. 10. Received check for $2,000 from a client in payment on account for commissions billed in transaction 4 IU. Kecevea a cnecK Tor 2,000 Trom a ciient in payment on account ror commissions Diliea in transaction 4. AV AV AV Page 8 of 15 Previous Page Next Page E e M