Exercise 247 Journalize the following business transactions in general journal form. Identify each transactic by number. You may omit explanations of the transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) 1. Received $50,000 from stockholders. 2 Purchased equipment for $75,000, paying $15,000 in cash and giving a note payable for the remainder. 3. Paid $3,000 rent for the month. 4. Recorded $12,500 of services provided on account. 5. Paid wages of $9,500 6. Received $7,000 in cash for services provided. 7. Collected $2,000 from customers on account. No Account Titles and Explanation Debit 1. 2. 3. 4. 5