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Prepare journal entries for the following transactions of Manley Beach Enterprises: 1) Paid $55,000 cash for office equipment. 2) Performed services for customers on account,

Prepare journal entries for the following transactions of Manley Beach Enterprises:

1) Paid $55,000 cash for office equipment.

2) Performed services for customers on account, $1,000.

3) Paid rent expense of $1075.

4) Received $1,700 payment from customers on account.

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