Prepare journal entries for each of the following transactions.
1. Performed services for customers on account $5,000.
2. Purchased $20,000 of equipment on account.
3. Received $3,000 from customers in transaction 1.
4. The owner, R. Orbison, withdrew $1,000 cash for personal use.

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The Answer of Prepare journal entries for each of the following transactions.
1. Performed services for customers on account $5,000.
2. Purchased $20,000 of equipment on account.
3. Received $3,000 from customers in transaction 1.
4. The owner, R. Orbison, withdrew $1,000 cash for personal use.

Prepare Journal Entries for Each of the Following Transactions