Chapter 2.2 Do In Class Handout Recording Business Transactions Record journal entries, post them on their appropriate T-accounts and journalize them: a) On October 1, Pioneer purchases office equipment costing $5,000 by signing a 3 month 12% $5,000 note payable b) On October 2, Pioneer receives a $1,200 cash advance from R. Knox, a client, for advertising services that are expected to be completed by December 31 c) On October 3, Pioneer pays office rent for October in cash $900 d) On October 4, Pioneer pays $600 for a one year insurance policy that will expire next year on September 30 e) On October 5, Pioneer purchases an estimated 3 month-supply of advertising materials on account from Aero Supply for $2,500 On October 9, Pioneer hires four employees to begin working on October 15. Each employee is to receive a weekly salary of $500 for a 5-day work week, payable every2 weeks, first payment made on October 26 g) On October 20, C. R. Byrd withdraws $500 cash for personal use. h) On October 26, Pioneer owes employees' salaries of $4,000 and have not paid them yet. i) On October 31, Pioneer receives $10,000 in cash from Copa Company for advertising services provided