Prepare journal entries to record the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. 1. Received $40,000 from shareholders for shares. 2. Purchased equipment for $50,000, paying $15,000 in cash and giving a note payable for the remainder. 3. Paid $3,000 rent for the month. 4. Recorded $12,500 of services provided on account. 5. Paid wages of $6,500. 6. Received $8,000 in cash for services provided. 7. Collected $1,000 from customers on account