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 amounts. List all debit entries before credit entries.) 1. 2. 3. 4. 5. 6. 7. Received $50,000 from stockholders in exchange for the issuance of stock. Purchased equipment for $75,000, paying $15,000 in cash and signing a note payable for the remainder. Paid $3,000 rent for the month. Recorded $12,500 of services provided on account. Paid wages of $9,500. Received $7,000 in cash for services provided. Collected $2,000 from customers as payment on account.

Journalize the following business transactions in general journal form. Identify each transaction by cumber, You may onit explanations of the transactions. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select 'No Entry' for the account tities and enter O for the amounts. List ell debit entries before credit entrien.) 1. Received $50,000 from stockholders in exchange for the issuance of stock 2. Purchased equipment for $75,000, paying $15,000 in cash and stening a note payable fer the remainder. 3. Paid $3,000 rent for the menth. 4. Recorded $12,500 of services provided on account. 5. Paid wages of $9,500. 6. Received $7,000 in cash for services provided. 7. Collected $2,000 from customers as payment on account