The following is a series of accounts for Murray & Morgan, Incorporated, that has been operating for two years. The accounts are listed and numbered for identification. Following the accounts is a series of transactions. For each transaction, indicate the account(s) that should be debited and credited by entering the appropriate account number(s) to the right of each transaction. If no journal entry is needed, write none after the transaction. The first transaction is given as an example.

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Account No. Account Title Account No. Account Title 1 Cash 9 Wages payable 2345678 Accounts receivable 10 Income taxes payable Supplies 11 Prepaid expense 12 Contributed capital Retained earnings Buildings 13 Service revenue Land 14 Operating expenses (wages. Accounts payable Mortgage payable Transactions a. Example: Issued stock to new investors. b. Performed services for customers this period on credit. c. Purchased on credit but did not use supplies this period. d. Prepaid a fire insurance policy this period to cover the next 12 months. e. Purchased a building this period by making a 20 percent cash down payment and signing a mortgage loan for the balance. f. Collected cash this year for services rendered and recorded in the prior year. 15 supplies, interest) Income tax expense Debit Credit 11