Following are the transactions for Valdez Services. a. The company paid $5,000 cash for payment on a 2-month-old account payable for office supplies. b. The company paid $1,500 cash for the just-completed two-week salary of the receptionist. c. The company paid $31,000 cash for equipment purchased. d. The company paid $700 cash for this month's utilities. e. The company paid a $5,000 cash dividend to the owner (sole shareholder). 1. Prepare general journal entries for the above transactions of Valdez Services. 2. Listed below are three reasons why a transaction would not result in an expense. Match each of the reasons to the transaction it properly describes. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare general journal entries for the above transactions of Valdez Services. View transaction list