Recording Transactions Using Journal Entries and T-Accounts Use the information below to complete the following. (1) Receive 50,000 in exchange for common stock. (2) Borrow 10,000 from bank. (3) Purchase 2,000 of supplies inventory on credit. (4) Receive 15,000 cash from customers for services provided. (5) Pay 2,000 cash to supplier in transaction 3. (6) Receive order for future services with 3,500 advance payment. (7) Pay 5,000 cash dividend to shareholders. (8) Pay employees 6,000 cash for compensation earned. (9) Pay 500 cash for interest on loan in transaction 2. a. Prepare journal entries for each of the transaction (1) through (9). b. Set up T-accounts for each of the accounts used in part a. and post the journal entries to those T-accounts. (The T-accounts will not have opening balances.) Journal entries T-accounts