Following are the transactions occured during the first month of Saeed's new business: 1. The owner, John, invests $150,000 in cash in starting a real estate office operating as a sole proprietorship Purchased land costing $28,000 for cash 3. Paid $1,000 for a one-year insurance policy 2. Purchased office equipment for $12,000, paying $6,000 in cash and signed a 60-day, note payable for the balance Purchased $500 supplies on credit. 6. Paid $1000 in cash for the current month's rent 7. Paid $500 cash on account for office supplies purchased in transaction 5 4. 5. 8 Real estate commissions billed to customers amount to $5000 Received a bill from the advertising agency 1000 for 9. advertising for the current month 10. Paid $ 4,000 cash for officer's salaries. John withdrew $ 2000 from the business for personal expenses 12. Received cash for $3,000 from a client in payment on account for commissions billed in transaction 8 11 Instructions: Journalize the following business transactions in general journal form. Identify each transaction by number. You may ignore the explanations of each transaction. General Journal Date Accounts Titles and Explanation Ref. Debit Credit 2 4 5 6 9 11 10 12 et