4) Write the journal entry and answer the accounting equation question for each: a) What is the journal entry a company records when paying $3,000 for advertising? Debit Credit Assets = Liabilities + Stockholders' equity Impact to the equation: Example: 13,000 = no change + 3,000 b) What is the journal entry a company records when incurring $4,500 of Supplies with a promise to pay in the future (sometimes called "purchased on account")? Debit Credit Impact to the equation: Assets = Liabilities + Stockholders' equity c) What is the journal entry a company records for selling common stock to investors for $5,000 cash? Debit Credit Impact to the equation: Assets = Liabilities + Stockholders' equity d) What is the journal entry a company records when it provides $8,000 of services for a customer on account (i.e., the customer promises to pay in the future)? Debit Credit 8000 Service revenue 8000 Impact to the equation: Assets = Liabilities + Stockholders' equity +8000 +8000 e) What is the journal entry a company records for receiving $4,000 cash in advance for services which will be performed and completed next month? Debit Credit Impact to the equation: Assets = Liabilities + Stockholders' equity