Transactions for Steve Williams Company for the month of October are presented below. Prepare Journal Entries for each transaction. Include journal explanations.
1	Invested $50,000 cash in the business.
2	Purchased land costing $28,000 for cash.
3	Purchased equipment costing $12,000 for $4,000 cash and the remainder on credit.
4	Signed a lease for new office space for $1,000/month starting in December, with no deposit required.
5	Purchased supplies on account for $900.
6	Paid $1,000 for a one-year insurance policy.
7	Received $4,000 cash for services performed.
8	Received $3,000 for services previously performed on account.
9	Paid wages to employees for $2,500.
10	Williams withdrew $1,000 cash from the business.