Pascal Engineering engaged in the following September transactions.

Requirement 1. Prepare journal entries for the transactions. Include an explanation for each transaction. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)

i Transactions - X Sep. 1 4 8 12 24 27 Paid monthly utilities expense of $125. Borrowed $9,800 cash, signing a note payable. Performed service on account for a customer, $3,500. Purchased equipment on account, $2,300. Purchased supplies for $580 and paid cash. Paid the liability created on September 12. i Required - X 1. Prepare journal entries for the transactions. Include an explanation for each transaction. 2. The following T-accounts for Pascal Engineering have been opened for you with the following September 1 balances: Cash #101, debit balance $3,400; Accounts Receivable #103, $0; Supplies #105, $0; Equipment #107, SO; Land #110, debit balance $30,000; Accounts Payable #201, $0; Note Payable #205, $0; R. Pascal, Capital #301, credit balance $33,400, Service Revenue #401, SO; Utilities Expense #501, SO. Post the transactions to the T-accounts, and compute the account balances. 3. Add the balances to prove that total debits equal total credits