7 Sysco, formed in 1969, is North America's largest marketer and distributor of food service products, serving approximately 425,000 restaurants, hotels, schools, hospitals, and other institutions. The following summarized transactions are typical of those that occurred in a recent year (dollars are in millions). 7.5 points a. Purchased plant and equipment for $585 in cash. b. Borrowed $948 from a bank, signing a short-term note. C. Provided $38,622 in service to customers during the year, with $26,850 on account and the rest received in cash. d. Paid $31,074 cash on accounts payable. e. Purchased $30,849 inventory on account. f. Paid payroll, $2,700 during the year. g. Received $37,410 on account paid by customers. h. Purchased and used fuel of $710 in delivery vehicles during the year (paid for in cash). i. Declared $501 in dividends at the end of the year to be paid the following year. j. Incurred $78 in utility usage during the year; paid $52 in cash and owed the rest on account. eBook 101 Hint 1.5 points Required: For each of the transactions, prepare journal entries. (If no entry is required for a transaction/event, select "No journal e required" in the first account field. Enter your answers in millions.) eBook View transaction list Journal entry worksheet Hint Print Record purchase of equipment for $585 in cash. Retenes References Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal