The Recording Process 2-37 Ex. 170 Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions. 1. The owner, Mike Derby, invests $35,000 in cash in starting a real estate office operating as a sole proprietorship. 2. Purchased $400 of office supplies on credit. 3. Purchased office equipment for $8,000, paying $2,000 in cash and signed a 30-day, $6,000, note payable. 4. Real estate commissions billed to clients amount to $4,000. 5. Paid $700 in cash for the current month's rent. 6. Paid $200 cash on account for office supplies purchased in transaction 2. 7. Received a bill for $600 for advertising for the current month. 8. Paid $2,200 cash for office salaries. 9. Derby withdrew $1,200 from the business for living expenses. 10. Received a check for $3,000 from a client in payment on account for commissions billed in transaction 4