Recording Transactions Using Journal Entries and T-Accounts (1) Receive 25,000 in exchange for common stock. (2) Borrow 5,000 from bank. (3) Purchase 1,000 of supplies inventory on credit. (4) Receive 7,500 cash from customers for services provided (5) Pay 1,000 cash to supplier in transaction 3 (6) Receive order for future services with 1,750 advance payment. (7) Pay 2,500 cash dividend to shareholders. (8) Pay employees 3,000 cash for compensation earned (9) Pay 250 cash for interest on loan in transaction 2. a. Prepare journal entries for each of the transaction (1) through (9) Unearned Revenue Interest Expense Cash Accounts Payable Common Stock Retained Earnings Notes Payable Revenue Wages Expense Inventory