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Recording Journal Entries Record the 5 journal entries above each of the transaction descriptions Account Debit Credit Date 1. 1. June 1st Purchased $5,000 of Inventory on Account 2. 2. June 15th Paid a $1,000 utilities bill for utilities used during the current period. 3. 3. June 20th Paid $1,800 in advance for 3 months of insurance for June through August. 4. 4. June 24th Provided Services to a customer for $5,000 of which $3,000 was paid by the customer and $2,000 was on account. 5