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Transactions for Tom Petty Company for the month of October are presented below. 1. Invested $40,000 cash in the business in exchange for stock. 2.

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Transactions for Tom Petty Company for the month of October are presented below. 1. Invested $40,000 cash in the business in exchange for stock. 2. Purchased land costing $28,000 for cash. 3. Purchased equipment costing $15,000 for $3,000 cash and the remainder on credit. 4. Purchased supplies on account for $800. 5. Paid $1,000 for a one-year insurance policy. 6. Received $3,000 cash for services performed. 7. Received $4,000 for services previously performed on account. 8. Paid wages to employees for $2,500. 9. Paid dividends of $2,000. Journalize each transaction and identify each transaction by number. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and ente 0 for the amounts.)

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