7. Listed below in alphabetical order are the balance sheet items of Madjack Company at December 31, 2011. Prepare a balance sheet and include a complete heading. Accounts payable $ 21,000 Accounts receivable 15,000 Buildings 96.000 Cash 6.000 Owner's Capital 113,000 Office Equipment 17,000 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. I 8. Paid wages to employees for $2,500. 9. Petty withdrew $1,000 cash from the business