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Record the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. 1. The owner, Brown,
Record the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. 1. The owner, Brown, invests 20,000 in cash in starting a real estate office operating as a sole proprietorship. 2. Purchased 400 of office supplies on credit. 3. Purchased office equipment for 7,500, paying 2,500 in cash and signed a 30-day, 5,000, note payable. 4. Real estate commissions billed to clients amount to 5,000. 5. Paid 700 in cash for the current month's rent. 6. Paid 200 cash on account for office supplies purchased in transaction 2. 7. Received a bill for 500 for advertising for the current month. 8. Paid 2,200 cash for office salaries. 9. Brown withdrew 1,200 from the business for living expenses. 10. Received a check for 4,000 from a client in payment on account for commissions billed in transaction 4. REQUIRED: Journalize the transactions in the general journal. (Omit explanations.)
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