. Prepare journal entries for the following transactions

Maxwell invested in $8,500 in cash and $4,000 in equipment for $12,500 of the common stock of Maxwell Repair Inc.

Paid cash $1,200 for rent

Purchased repair supplies on credit $2,500 from Sampson Inc

Purchased equipment for $1,000

Provided repair services for a customer and received $3,500 in cash

Paid Sampson Inc. for the repair supplies purchased in (c)

Provided repair services of $1,400 and billed the customer who will pay next week

Paid salary of $500 to an employee

Received $1,400 in cash from the customer in (g)

Declared and paid a dividend of $700