Below are several transactions for Dinklage Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions. External Transaction 1. Owners invest $6,500 in the company and receive common stock. 2. Receive cash of $2,300 for services provided in the current period. 3. Purchase office supplies on account, $130. 4. Pay $430 for next month's rent. 5. Purchase office equipment with cash of $1,358. Required: 1. Assess whether the proposed entries are correct or incorrect. 2. Provide a correct entry for each of the transactions classified as incorrect. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assess whether the proposed entries are correct or incorrect. External Transaction 1. 2. 3. 4. 5. Accounts Common Stock Debit Credit 6,500 Cash 6,500 Cash 2,300 Service Revenue 2,300 Supplies Cash Rent Expense 130 130 430 Cash Cash 430 1,350 Equipment 1,350