Create a journal entry and a T-Account entry for each of the following transactions To earn the full credit make sure to respond one of your peer's posting by providing a substantive comment also. Don't forget 30 points of your discussion points is based upon your substantive and constructive comment to your peer's posting 1. $30,000 worth of supplies is purchased with cash, 2. $10,000 worth of supplies is used to provide clients with goods and services 3. Wapes due to employees that had been previously recorded as a fiability are now paid in cash in the amount of $50.000 4. Bills are submitted to insurance companies in the amount of $90,000 for services rendered to patients 5. Cash payments of $60,000 are received for services previously provided and billed 6. $5,000 worth of additional supplies is purchased on account. PS. In your discussions please provide your reasoning for each of the recording along with your discussions on GAAP principles You may use the attached Excel nie to record the transactions. However, please post the description and remsoning of each transaction as a text