Part II. Write Journal Entries in proper form for the following economic transactions: 1. Paid Insurance Expense of $1,200 for the current month. 2. Accrued Utilities Expense on account, $450. 3. Performed a service job and billed the client $135. 4. Purchased Equipment for $4,500, putting 15% down and financing the remaining amount with a 5% Note Payable due in 2 years. 5. Record the entry to show Equipment is being depreciated $1,000. 6. Accrued $5,600 of Wages expense at year end. 7. Rent expense is $500 per month. The company paid $1,500 for Rent consisting of the current month and the next two months. 8. Purchased $1,000 of Supplies Inventory at the beginning of the month which has previously been recorded. A physical count of Supplies Inventory shows a balance of $350 of supplies on hand. Write the adjusting journal entry. 9. Did a service job and immediately collected $2,340. 10. Paid the utilities expense accrued in JE 2 above