1. Jojo's Jump Rope Company had the following transactions occur during the month of August. Analyze the transactions and prepare the appropriate journal entries. (You may want to use T-accounts to help you think through debits and credits, but the final solution is a set of properly formatted journal entries. Date 8/1 8/4 8/7 8/10 8/12 8/14 8/22 8/27 Description Jojo sold $320 in rope handle refinishing services, but has not performed the service. Jojo purchased a building in town for $27,500, using a mortgage note for financing. Jojo performed the refinishing services for the client from August 1. Jojo purchased a $600 insurance policy that will be effective September 1. Jojo went to a local store and bought $460 worth of office supplies on account. Jojo paid $1,800 for a billboard advertisement (he paid in cash). Jojo took on a new client and performed $900 in jump rope repair services. Jojo paid wages of $9,000 to his employees