During March, the business engaged in the following transactions: a. Borrowed $49,000 from the bank and signed a notes payable in the name of the business b. Paid cash of $26,500 to acquire land c. Performed customer service and earned revenue on account, $5,560 d. Performed service for a customer and received cash of $5,800 e. Purchased supplies on account, $350 f. Paid $3,575 on accounts payable g. Paid cash expense for salaries ($4,500) and rent ($2,500); make a compound entry h. Received $3,300 on account i. Pays $900 in cash for a 3-month auto insurance j. Received a $255 utility bill that will be paid next week k. Harper withdrew cash of $5,575 l. Paid maintenance expense of $230

1. Journalize each transaction. Key journal entries by transaction letter. Journal Entry ACCOUNT DEBIT CREDIT a. Cash 49,000 Notes Payable 49,000 b. Land 26,500 Cash 26,500 c. Accounts Receivable Service revenue d. e. f. g. h. i. j. k. l.