o Prepare the journal entry required for each of the following transactions. Be sure to identify which part of the entry is the debit and which is the credit. Provide five correct responses: Cash was received for services performed for customers, $1,200. Services were performed for customers on account, $4,200. Purchased machinery for cash, $30,000. Capital stock was issued for $100,000. Salaries for a period were paid to employees, $24,000. Purchased a truck using a note payable, $35,000. o Distinguished: o Correctly prepare all of the journal entries for the transactions

input in the following:

Date		Account Title and Explanation	Post Ref	Debit	Credit
2014 Jul		Cash (+A)	100	1200
		Service Revenue (+SE)	400		1200
		To record cash received from a customer for services performed
		Accounts Receivable (+A)	103	4200
		Service Revenue (+SE)	400		4200
		Services were performed for customers on account
		Machinery (+A)	120	30000
		Cash (-A)	100		30000
		To record the purchase of machinery
		Cash (+A)	100	100000
		Capital Stock (+SE)	300		100000
		Issued capital stock for $100,000
		Salaries Expense (-SE)	507	24000
		Cash (-A)	100		24000
		Paid personnel salaries for the first four months of July
		Trucks (+A)	150	35000
		Notes Payable (+L)	210		35000
		To record the purchase of a truck using a note