(The following information applies to the questions displayed below.) Following are account balances (in Millions of dollars) from a recent StateEx annual report, followed by several typical transactions. Assume that the following are account balances on May 31 (end of the prior fiscal year): Account Balance Account Balance Property and equipment (net) $ 15,094 Receivables $1,849 Retained earnings 10,806 other current assets 939 Accounts payable 1,377 Cash 1,004 Prepaid expenses 168 Spare parts, supplies, and fuel 515 Accrued expenses payable 2,190 Other noncurrent liabilities 3,470 Long-term notes payable 1,610 Other current liabilities 2,059 Other noncurrent assets 2,732 Additional Paid-in Capital 787 Common stock (80.10 par value) 2 These accounts are not necessarily in good order and have normal debit or credit balances. Assume the following transactions fin millions, except for par value) occurred the next fiscal year beginning June 1(the current year): a. Provided delivery service to customers, who paid $4,390 in cash and owed $27,104 on account b. Purchased new equipment costing $3,554, signed a long-term note. c. Paid $9,064 cash to rent equipment and aircraft, with $4,036 for rent this year and the rest for rent next year. d. Spent $984 cash to repair facilities and equipment during the year. e. Collected $27,885 from customers on account. f Repaid $210 on a long-term note (ignore interest). g. Issued 80 million additional shares of $0.10 par value stock for $22 (that's $22 million). h. Paid employees $10,776 for work during the year. 1. Purchased spare parts, supplies, and fuel for the aircraft and equipment for $8,364 cash. j. Used $6,750 in spare parts, supplies, and fuel for the aircraft and equipment during the year. k. Paid $904 on accounts payable. 1. Ordered $100 in spare parts and supplies. Required: 1. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter amounts in millions, not dollars.) Required: 1. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter amounts in millions, not dollars.) View transaction list 12 Journal entry worksheet