Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter O for the omounts. List all debit entries before credit entries$)$

Received $$47,000$ from stockholders in exchange for the issuance of stock.

Purchased equipment for $$85,000,$ paying $$17,500$ in cash and signing a note payable for the remainder.

Paid $$2,500$ rent for the month.

Recorded $$12,200$ of services provided on account

Paid wages of $$8,800.$

Received $$7,100$ in cash for services provided.

Collected $$2,700$ from customers as payment on account.

No Account Titles and Explanation

$1.$

$2.$

$3.$

Debit

Credit