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Prepare the journal entry to record each transactions

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Problem - Journal Entries - Prepare the journal entry to record each of the following independent transactions. (Use the number of the transaction in lieu of a date for identification purposes.)

1. Services provided on account of $1,530.

2. Purchases of supplies on account for $1,365.

3. Services provided for cash of $750.

4. Purchase of equipment for cash of $4,240.

5. Issuance of a promissory note for $2,500.

6. Collections on account for $890.

7. Sale of capital stock in exchange for a parcel of land; the land is appraised at $50,000.

8. Payment of $4,000 in salaries and wages.

9. Payment of open account in the amount of $500.

Reference no: EM132846803

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