Prepare the journal entry to record each of the following independent transactions. (Use the number of the transaction in place of a date for identification purposes.)
1. Services provided for cash of $7,050.
2. Purchase of equipment for cash of $2,240.
3. Services provided on account of $530.
4. Purchases of supplies on account for $365.
Purchases of supplies on account for $365.

Question

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The Answer of Prepare the journal entry to record each of the following independent transactions. (Use the number of the transaction in place of a date for identification purposes.)
1. Services provided for cash of $7,050.
2. Purchase of equipment for cash of $2,240.
3. Services provided on account of $530.
4. Purchases of supplies on account for $365.
Purchases of supplies on account for $365.

Prepare the Journal Entry to Record Each of the Following