Exercise 2-12A Correct recorded transactions (LO2-4) [The following information applies to the questions displayed below] Below are several transactions for Scarlet Knight Corporation. A junior accountant, recently employed by the company. proposes to record the following transactions. External Transaction 1. Owners invest $9,500 in the company and receive common stock. Accounts Common Stock Cash Debit Credit 9,500 9,500 2. Receive cash of $2,900 for services provided in the current period. Cash 2,900 Service Revenue 2,900 3. Purchase office supplies on account, $190. 4. Pay $490 for next month's rent. Supplies 190 Cash 190 Rent Expense Cash 490 490 5. Purchase office equipment with cash of $1,650. Cash 1,650 Equipment 1,650 2. Provide a correct entry for each of the transactions classified as incorrect. (If no entry is required to correct a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 Owners Invest $9,500 in the company and receive common stock. Note: Enter debits before credits. Transaction General Journal Debit Credit 9 < Prev 84 of 23 Next Required information 1 2 3 4 5 Owners invest $9,500 in the company and receive common stock. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry < Prev 94 View general journal of 23 Next >