Following are the transactions for Valdez Services. a. The company paid $2,000 cash for payment on a 6-month-old account payable for office supplies. b. The company paid $1,200 cash for the just completed two-week salary of the receptionist c. The company paid $39,000 cash for equipment purchased. d. The company paid $800 cash for this month's utilities. e. The company paid a $4,500 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.