During the first month of operations, Gagne Services, Inc., completed the following transactions: (Click the icon to view the transaction data.) Read the requirements. Requirement 1. Record each transaction in the journal. Key each transaction by date. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Oct 2: Gagne Services received $61,000 cash and issued common stock to the stockholders. Journal Entry Date Accounts Debit Credit Oct More Info Oct 2 Gagne Services received $61,000 cash and issued common stock to the stockholders. Oct 3 Purchased supplies, $1,000, and equipment, $11,400, on account. Oct 4 Performed services for a customer and received cash, $5,700. Oct 7 Paid cash to acquire land, $31,000. Oct 11 Performed services for a customer and billed the customer, $2,900. Gagne expects to collect within one month. Oct 16 Paid for the equipment purchased October 3 on account. Oct 17 Paid for newspaper advertising, $620. Oct 18 Received partial payment from customer on account, $800. Oct 22 Received and paid the water and electricity bills, $450. Oct 29 Received $3,200 cash for servicing the heating unit of a customer. Oct 31 Paid employee salaries, $2,200. Oct 31 Declared and paid dividends of $1,400. Print Done Requirements 1. Record each transaction in the journal. Be sure to record the date in each entry. Explanations are not required. 2. Post the transactions to the T-accounts, using transaction dates as posting references. Determine the ending balance in each account. 3. Prepare the trial balance of Gagne Services, Inc., at October 31 of the current year. 4. David Gagne, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether October was profitable (and by how much). Print Done