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1 On January 1,KCl issued stock in exchange for $22000 cash. 2 On January 2,KCl purchased a truck for $14,000, paying $2,000 cash down and

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1 On January 1,KCl issued stock in exchange for $22000 cash. 2 On January 2,KCl purchased a truck for $14,000, paying $2,000 cash down and signing a 5 -year, 8% note for the remaining $12,000. 3 On January 3, KCl purchased cleaning supplies for $1200 on account to be used over several months. 4 On January 5,KCl prepaid $1200 for a one-year insurance policy. Coverage began on January 1. 5 On January 10,KCl sent invoices to customers amounting to $5000 for completed cleaning services. 6 On January 15,KCl paid $2600 for employee salaries for work performed in January. 7 On January 16, KCl collected $3750 from customers billed on January 10. 8 On January 20,KCl collected $1,000 in advance from a customer for February cleaning services. 9 On January 31,KCl makes a cash payment on truck note for $500. 10 On January 31,KCl paid a cash dividend of $100. For the above ten transactions, Prepare the Monthly Journal Entries, Post to the General Ledger (T-Accounts), and Prepare an Unadjusted Trial Balance. At the end of January, KCl analyzed the following transactions for which journal entries have not yet been prepared. 1 An inventory count at the close of business on January 31 reveals that $500 of supplies are still on hand. 2 Insurance of $100 expires each month. 3 The truck has a useful life of 5 years ( 60 months) and has a salvage value of $2,000.KCl uses SL Depreciation 4 Completed cleaning services for customers for a total of $2750, but have not yet sent out the invoices. 5 Interest has accrued on the note, but will not be paid until later. For the above five transactions, prepare the Adjusting Journal Entries, Post to the General Ledger, and Prepare an Adjusted Trial Balance, You should only have one set of T-Accounts. Add to the ones previously prepared and create newt-accounts when needed

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