answer of 42,43.

42. Transactions for the Peony Company for the month of July are presented below. Shareholders invested an additional $36,000 cash in the business. Purchased land costing $18,000 for cash. Purchased equipment costing $9,000 for $4,000 cash and the remainder on credit. Purchased supplies on account for $800. Paid $3,000 for a one year insurance policy. Received $2,000 for services performed. Received $4,000 for services previously performed on account. Paid wages to employees for $2,500. Required: Journalize each transaction and identify each transaction by number 43. Record the following transactions for the Magnolia Music Store: Provide music lessons to students for $10,000 on account. Purchase music supplies on account, $1,000. Pay rent for the current month, $2,000 Receive $10,000 cash from students in above. Required Journalize each transaction and identify each transaction by number