Problem 1 110 points) Journalize (prepare the journal entries) the following business transactions. Identify each transaction by number. You may omit explanations of the transactions. 1. The owner, Athena Lu, invests $35,000 in cash in starting a real estate office operating as a sole proprietorship 2 Purchased $400 of supplies on credit. 3 Purchased equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6.000, note payable Real estate commissions billed to clients amount to $4,000 5 Paid $700 in cash for the current month's rent 6 Paid $200 cash on account for supplies purchased in transaction 2 7. Received a bill for $600 for advertising for the current month 8 Paid $2,200 cash for office salaries and wages 9 Lu withdrew $1,200 from the business for living expenses 10 Received a check for $3,000 from a client in payment on account for s billed in transaction 4 SOLUTION