Prepare journal entries to record the following transactions. Purchased land for $81,800 and a building for $321,800. The purchase is paid for with $61,800 cash and a note payable for $341,800. Paid $680 cash for an insurance premium covering the next 12 months. Completed services for a customer and immediately collected $1,180 cash. Paid $380 cash for supplies. Paid $580 cash for this period's utilities

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The journal entries to record the transactions would be as follows Purchased land for 81... View the full answer