For each of the following transactions, record the journal entry using the accounting equation format we used in Ch. 1. Then, record the same journal entry using debits and credits. Finally, post the journal entry to the ledger accounts (T-Accounts). For dollar amounts, do not use $ signs and make sure to use commas for thousands and millions. For the accounting equation, use + and - to indicate increase or decrease. For debits and credits, do not use + or - The list of accounts used is here: Cash, Owners' Capital, Accounts Receivable, Service Revenue, Supplies, and Accounts Payable. ex. Buy inventory for $1,000 cash. Accounting Equation Format Assets Liabilities Equity_+ Revenues - Expenses Cash Inventory. -1,000 +1,000 + Debit/Credit Format Accounts Debit Credit 1,000 Inventory Cash 1,000 Posting to Ledger Cash Inventory 1,000 1,000 1. Owner invests $7,000 cash. Accounting Equation Format Assets Liab. + Equity + Rev. Exp. Debit/Credit Format Accounts Debit Credit Posting to Ledger 2. Company sells services on account for $2,000. Accounting Equation Format Assets Liab. + Equity Rev. Exp. Debit/Credit Format Accounts Debit Credit Posting to Ledger 3. Company buys $500 of supplies on credit. Accounting Equation Format Assets Liab. + Equity + Rev. Exp. Debit/Credit Format Accounts Debit Credit Posting to Ledger