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Transactions for the Olson Company for the month of October are presented below. Journalize each transaction in the table below. You may skip a line

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Transactions for the Olson Company for the month of October are presented below. Journalize each transaction in the table below. You may skip a line between each entry. Identify each transaction by number. You may omit journal explanations and posting references. The first transaction is done as an example. 1. Olson invested an additional $36,000 in the business. 2. Purchased land costing $28,000 for cash. 3. Purchased equipment costing $8,000 for $4,000 cash and the remainder on account. 4. Purchased supplies on account for $800. 5. Paid $1,000 for a one-year insurance policy. 6. Received $2,000 cash for services performed. 7. Received $4.000 cash from customers on account for services performed in the past. 8. Paid wages to employees for $2,500. 9. Olson withdrew $400 cash from the business for his personal use

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