Below are several transactions for Crimson Tide Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions.

External Transaction	Accounts	Debit	Credit
1. Pay cash dividends of $680 to stockholders.	Cash	680
	Dividends		680
2. Provide services on account for customers, $2,200.	Cash	2,200
	Service Revenue		2,200
3. Pay a $380 utilities bill for the current period.	Utilities Expense	380
	Cash		380
4. Receive cash of $280 from previously billed customers.	Cash	280
	Service Revenue		280
5. Pay for supplies previously purchased on account, $1,080.	Supplies Expense	1,080
	Cash		1,080

Required:

1. Assess whether the proposed entries are correct or incorrect.

2. Provide a correct entry for each of the transactions classified as incorrect.