Journal entry worksheet 5 Paid \$540 cash for an insurance premium covering the next 12 months. Noter Enter debits before credits. Prepare journal entries to record the following transactions. Q. Purchased land for $80,400 and a building for $320,400. The purchase is poid for with $60,400 cosh and a note payable for $340,400. b. Paid $540 cash for an insurance premium covering the next 12 months. c. Completed services for a customer and immediately collected $1,040cosh d. Paid $240 cash for supplies. e. Paid $440 cash for this period's utilities. Journal entry worksheet Paid $240 cash for supplies. Notel Enter debitx before credits. Journal entry worksheet \begin{tabular}{lllll}