Create a Record from Javascript using web api query

var entity = {};
entity.name = "test";
entity["new_marketid@odata.bind"] = "/new_markets(xxxxxxxx-EF23-E411-A48E-xxxxxxxxx)";

$.ajax({
    type: "POST",
    contentType: "application/json; charset=utf-8",
    datatype: "json",
    url: Xrm.Page.context.getClientUrl() + "/api/data/v8.2/accounts",
    data: JSON.stringify(entity),
    beforeSend: function(XMLHttpRequest) {
        XMLHttpRequest.setRequestHeader("OData-MaxVersion", "4.0");
        XMLHttpRequest.setRequestHeader("OData-Version", "4.0");
        XMLHttpRequest.setRequestHeader("Accept", "application/json");
    },
    async: true,
    success: function(data, textStatus, xhr) {
        var uri = xhr.getResponseHeader("OData-EntityId");
        var regExp = /\(([^)]+)\)/;
        var matches = regExp.exec(uri);
        var newEntityId = matches[1];
    },
    error: function(xhr, textStatus, errorThrown) {
        Xrm.Utility.alertDialog(textStatus + " " + errorThrown);
    }
});

var lookupValue = new Array();
lookupValue[0] = new Object();
lookupValue[0].id = "xxxxxxxx-EF23-E411-A48E-xxxxxx";
lookupValue[0].name = "A&E";
lookupValue[0].entityType = "new_markets";
var entity = new XrmServiceToolkit.Soap.BusinessEntity("account");
entity.attributes["name"] = "test"; 
entity.attributes["new_marketid"] = lookupValue;
var guid = XrmServiceToolkit.Soap.Create(entity);