Part 3: Journal Entries 20 Points Prepare Journal entries of the following transactions. A business is started by receiving $5,000 cash from the owner A business purchases land for $100,000 cash. A business purchases supplies for $200 on account. A business renders services to its cystomer and collects $900 cash. A business renders services to its customer for $350 on account. A business pays salary expense of $4,000 in cash. In a previous month, the business purchased supplies for $800 on account. Now the business makes a cash payment of $800 to the supplier. In a previous month, the business rendered services of $5,000 to a client on account. Now the business receives $5,000 cash from the client. At the end of the month, the business receives a bill for utility expenses of $800 incurred during the month. The business will pay the bill during the following month. At the end of the month, the business owner takes a withdrawal of $10,000