Part 4. Prepare journal entries and post to T-accounts for the following transactions of Dechow Company. Open the appropriate T-accounts in the general ledger:

1. Purchased new equipment for $8,000 in cash.
2. Customers pay off $3,000 on account.
3. Received and immediately paid a utility bill of $400.
4. Paid employees for wages earned $6,000.
5. Signed a $25,000 contract to build a new factory building for a customer.