ACC1100 - Week 4 Lab 4 Remember T-accounts are a learning tool. So you may find it easier to record transactions into a t-account first. You may want to use T-accounts to help you identify and analyze the accounts before you record them into your journal. Set up your T-accounts on a sheet of paper. You need only 1 t-account per account. Important: Record the first transaction into the T-accounts and then record directly into the General Journal. Repeat for each transaction. QS 2-12Preparing journal entries LO3,5 Prepare journal entries for the following transactions that occurred during 2017: Purchased equipment on account; $500. Paid for the equipment purchased on May 1. Purchased supplies for cash; $100. May 1 2 3 4 Paid wages to employees; $2,000. 59 6 7 Performed services for a client and collected cash; $750. Did work for a customer on credit; $2,500. Collected the amount owing from the customer of May 6. Page 119 QS 2-13Preparing journal entries LO3,5 Prepare journal entries for the following transactions that occurred during January 2017: January 3 Stan Adams opened a landscaping business by investing $60.000 cash and equipment having a $40,000 fair value 4 Purchased office supplies on credit for $340. 6 Received $5.200 for providing landscaping services to a customer 45 Paid $200 regarding the office supplies purchase of January 4 16 Purchased $700 of office supplies on account 30 Paid tie balance owing regarding the office supplies purchase of January 4