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[The following information applies to the questions displayed below) Below are several transactions for Crimson Tide Corporation. A junior accountant, recently employed by the company,

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[The following information applies to the questions displayed below) Below are several transactions for Crimson Tide Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions External Transaction Accounts 1. Pay cash dividends of $660 to stockholders, Debit Credit Cash 660 Dividends 660 2. Provide services on account for customers, $2,000. Cash 2.000 Service Revenue 2.000 3. Pay a $360 utilities bill for the current period, Utilities Expense 360 Cash 360 4. Receive cash of $260 from previously billed customers, Cash 260 Service Revenue 260 5. Pay for supplies previously purchased on account, $1060. Supplies Expense 1,060 Cash 1,060 2. Provide a correct entry for each of the transactions classified as incorrect. (if no entry is required to correct a transaction/event. select "No journal entry required in the first account field.) View transaction list Journal entry worksheet

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