Robin Harrington established Timely Delivery on January 1, 2017. The following transactions occurred during the company’s most recent quarter. 

a. Issued shares for $80,000 

b. Provided delivery service to customers, receiving $72,000 in accounts receivable and $16,000 in cash

c. Purchased equipment costing $82,000 and signed a long-term note for the full amount

d. Incurred repair costs of $3,000 on account

e. Collected $65,000 from customers on account 

f. Borrowed $90,000 by signing a long-term note

g. Prepaid $74,400 cash to rent equipment and aircraft next quarter

h. Paid employees $38,000 for work done during the quarter

i. Purchased (with cash) and used immediately $49,000 in fuel for delivery equipment

j. Paid $2,000 on accounts payable 

k. Ordered, but haven’t yet received, $700 in supplies 

Required: 

For each of the transactions, prepare journal entries. Be sure to categorize each account as an asset (A), liability (L), shareholders’ equity (SE), revenue (R), or expense (E).