Step 1: Journalize business transactions: 1. Investors contribute $10,000 in exchange for common stock 2. Company purchases equipment in the amount of $6,000 3. Company purchases building (on a mortgage) for $100,000 4. Company purchases supplies on account for $10,000 5. Company receives $2,000 in advance payment from customer 6. Company purchases a one year insurance policy for $1200 7. Company receives $15,000 for services performed 8. Company pays employees $1800 from work performed 9. Company pays $1150 for one month of advertising Acco