| LIELA A AV A. - A X PAKI TWO Question 1 (25 marks) Transactions for ABC Company for the month of September are presented below. Sept.1 The company issued common stock in exchange for $300,000 cash. 4. Purchased equipment for $40,000, paying $6,000 in cash and the remainder on credit. 10. Paid $2,000 for a one-year insurance policy. 11. Purchased office supplies on account for $1,600. 15. Performed services for a customer on account for $5,000 and the customer promises to pay within this month. 17. Performed services for a customer and received cash of $6,000. 25. Paid for the office supplies previously purchased on account. 27. Paid salaries to employees $3,000 and utilities $2,000. 28. Received $3,000 for services previously performed on account. 30. Paid $4,400 cash for dividends. Instructions: Read each of the above transactions, then: a) Journalize each transaction (you may omit journal explanations) (22 marks)(1 point each 2201 b) Open T account for Cash and post the journal entries to Cash account ONLY then compute its balance at the end of September (3.0 marks)