#1 Journalize Entry using Chart of Accounts Acct. No. Account Title 100 Cash 103 Accounts Receivable 150 Trucks 160 Office Furniture 172 Office Equipment 200 Accounts Payable 201 Notes Payable 300 Capital Stock 310 Retained Earnings 400 Service Revenue 506 Gas and Oil Expense 507 Salaries Expense 511 Utilities Expense 512 Insurance Expense 515 Rent Expense 530 Repairs Expense Transactions Jan 1 The company received $860,000 cash from the sale of capital stock. Company purchased delivery trucks that cost $260,000. Purchased insurance for 12 months on the delivery trucks. The cost of the policy, $1200 was paid in cash. Paid garage rent for January, $6,000. Purchased computers on account, $13,200. Performed work for customer for $4,000 on account. Purchased office supplies on account for $1,500. Paid salaries for first half of January, $3,600. Cash sales of delivery services were $2,880. Received bill for gasoline purchased and used in January, $180. Received payment of $1,800 for work performed on January 6th. Received and paid January utilities bills, $960. Paid $3,200 of the balance due on the computers purchased on January 4th. Paid for office supplies purchased on January 15th.