tr i Transactions Jan. 1 Paid monthly utilities expense of $500. The analysis for the first transaction has been completed for you. Click here to view the resulting journal entry. 4 Borrowed $7,000 cash, signing a note payable. 8 Purchased equipment on account, $2,200. 12 Performed service on account for a customer, $11,000. 19 Sold land for $33,000 cash that had cost this same amount. 22 Purchased supplies for $900 and paid cash. 27 Paid the liability created on January 8. Print Done Analyze the following transactions of Ultimate Party Planners in the manner shown below for the January 1 transaction. Alsorecord each transaction in the jumal. Click the icon to view the transactions.) Jan. 4. Borrowed $7.000 cash, signing a note payable The Cash is therefore Cash. The liability, Note Payable, is therefore, Nota Payable Prepare the journal entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journal Entry Date Accounts De Credit Jan Accounts Payable Jan 8Purchased equipment on account, $2,200 The assot Equipment is Equipment. The obity Accounts Payable, is Prepare the journal entry Journal Entry Accounts Deba Credit Choose from any list or enterary number in the input fields and then continue to the question Accounts Receivable. The revenue, Service Revenue, is : therefore, y Service Revenue. Jan. 12. Performed service on account for a customer, $11,000. The asset, Accounts Receivable, is therefore, Prepare the journal entry. Journal Entry Date Accounts Debit Credit Jan Jan. 19. Sold for $33,000 cash land that had cost this same amount The asset, Cash, is therefore Cash. The asset, Land, is Prepare the journal entry therefore, Land Journal Entry Date Accounts Debit Credit Jan Choose from any list or enter any number in the input fields and then continue to the next question, Jan. 22. Purchased supplies for $900 and paid cash. The asset, Supplies, is therefore, Supplies. The asset, Cash, is therefore, Cash Prepare the journal entry Journal Entry Accounts Date Debit Credit Jan Accounts Payable. The asset, Cash, is therefore, Cash. Jan. 27. Paid the liability created on January 8. The liability, Accounts Payable, is therefore, Prepare the journal entry Journal Entry Date Accounts Jan Debit Credit