Journal Entries Castle Consulting Agency began business in February 2008. The transactions entered into by Castle during its first month of operations are as follows:

a. Acquired articles of incorporation from the state and issued 10,000 shares of capital stock in exchange for $150,000 in cash.

b. Paid monthly rent of $400.

c. Signed a five-year promissory note for $100,000 at the bank.

d. Received $5,000 cash from a customer for services to be performed over the next two months.

e. Purchased software to be used on future jobs. The software costs $950 and is expected to be used on five to eight jobs over the next two years.

f. Billed customers $12,500 for work performed during the month.

g. Paid office personnel $3,000 for the month of February.

h. Received a utility bill of $100. The total amount is due in 30 days.

Required Prepare in journal form the entry to record each transaction.