The following transactions occurred at the Daisy King Ice Cream Company 1. Started business by issuing 10,000 shares of common stock for $40,000. 2. Leased a building for three years at $700 per month and paid six months' rent in advance. 3. Purchased equipment for $7,400, signing a two-year, 10% note. 4. Purchased $3,800 of supplies on account. 5. Recorded cash sales of $2,800 for the first week. 6. Paid weekly salaries, $1,320. 7. Paid for supplies purchased in Item (4) 8. Recorded depreciation on equipment, $120. 12 Required: Prepare Journal entries to record each of the transactions listed above. (If no entry is required for a transaction/event, select " journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 Started business by issuing 10,000 shares of common stock for $40,000 Note: Enter debits before credits ew transaction list X: Started business by issuing 10,000 shares of common stock for $40,000. Leased a building for three years at $700 per month and paid six months' rent in advance. - Purchased equipment for $7,400, signing a two-year, 10% note. Credit # Purchased $3,800 of supplies on account. 5 Recorded cash sales of $2,800 for the first week. 6 Paid weekly salaries, $1,320. Hote: = journal entry has been entered Record entry Clear entry View general journal Journal entry worksheet 2 3 5 6 7 8 > Started business by issuing 10,000 shares of common stock for $40,000. Note: Enter debits before credits Event General Journal Debit Credit 1 Record entry Clear entry View general journal