Exercise 2 Record journal entries for the following transactions: 7/1 Paid $250 to repair factory equipment (Ck #512). 7/12 Purchased $500 raw materials on account from Distributor Co. 7/18 Paid factory property taxes of $150 (Ck #513). 7/31 Recorded $200 depreciation on factory machinery. Account / Explanation Dr. Cr. Date 7/1 x x X X (Repair equipment ck#512) 7/12 x x X X (RM purchases - Distributor Co) 7/18 X X X X (Property taxes - Ck#513) 7/31 X X X X (Depreciation factory machinery)