Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transactions.
1. The owner, Rose Wier, invests $35,000 in cash to start a real estate office operating as a sole proprietorship.
2. Purchased $400 of office supplies on credit.
3. Purchased office equipment for $6,000, paying $2,500 in cash and signed a 30-day, $3,500, note payable.
4. Real estate commissions billed to clients amounted to $4,000.
5. Paid $700 in cash for the current month's rent.
6. Paid $200 cash on account for office supplies purchased in transaction 2.
7. Received a bill for $500 for advertising for the current month.
8. Paid $2,200 cash for office salaries.
9. Rose Wier withdrew $1,200 from the business for living expenses.
10. Received a cheque for $3,000 from a client in payment on account for commissions billed in transaction 4.
Correct Answer:
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