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Instructions:

Record the following journal entries.

Give the account titles, the amounts and the debit and credit amounts.

Account
Common stock was issued for $100,000
Services were performed for customers on account, $4,200
Cash was received for services performed for customers, $1,200
Purchased machinery for cash, $30,000
Cash was received for services performed for customers, $1,200
Purchased $15,000 of equipment by signing a note
Purchased a new truck for $28,000 cash
Purchased $2,500 in supplies on account
Paid one year of auto insurance in advance for $3,600
Paid the month rent of $1,600
Received the month electric bill of $600

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