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b: Company paid a utility bill for $600. c: Company received cash of $15,000 for services performed. d: Company made payment on account for $1,000. e: Company received $12,000 for services not yet performed. Set 5 Question 12. Question : (TCOs B and D) Please prepare the following journal entries. Indicate which account should be debited and which account should be credited, along with the dollar amount of the debit and credit. (1) Investors invest $300,000 in exchange for 30,000 shares of common stock. (2) Company made payment on account for $500. (3) Employees work Monday through Friday and are paid on Friday. Salary expense is $20,000 per day, and December 31 falls on a Tuesday. (4) Company purchased Supplies for $2,000. (5) The company needs to record Supplies used for $500. Question 3 .The following items are taken from the financial statements of BGS Company for 2012: Cash $500,000 Accounts Receivable 200,000 Supplies 70,000 Accounts Payable 147,300 Unearned Service Revenue 18,000 Equipment, net of accumulated depreciation 212,000 Common Stock 500,000 Retained Earnings 12/31/2011 78,300 Long-term debt 142,400 Service revenue 240,000