Stuart Corporation entered into the following transactions during the year ending December 31, Year 1:1) Performed services for $26,000 cash2) Purchased $800 of supplies on account3) Purchased land for $95,000 cash4) Paid salary expense of $16,5005) Paid for $600 of the supplies purchased in event (2)6) Collected $15,000 in advance for services to be provided over the next 12 months7) Recognized $10,000 of revenue on the contract from event (6)8) Owed $5,500 of salaries expenses to employees for work done during December, Year 1, that will be paid during January, Year 2.Required:Prepare the journal entries for these transactions and adjustments using the general journal format.
What will be an ideal response?
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