answer of 41,26

4. Journalize the following business transactions in general journal form. Identify each transaction by number Shareholders invest $25,000 in cash for starting a business as a corporation. Purchased $500 of office supplies on credit. Purchased office equipment for $6,000, paying $3,500 in cash and issuing a 30 day, $2,500, note payable. @ Billed clients for $4,000 service revenue(not received yet). Paid $700 in cash for the current month's rent. O Paid $250 cash for office supplies purchased on account in transaction . Received a bill for $500 for advertising for the current month(not paid yet). Paid $2,500 cash for office salaries. 26. On September 30, Narwhal Co. paid employee salaries $7,000, including $1,000 it owed to its employees last month. What are the effects of this transaction on the accounting equation? @ Expenses increased, liabilities increased, and assets increased. Assets decreased, liabilities decreased, and expenses increased. Assets decreased, expenses decreased, and liabilities increased. Expenses decreased, liabilities decreased, and assets decreased. 27