2-1 (Algo) Accounting cycle through unadjusted trial balance [LO2-3, 2-4] Halogen Laminated Products Company began business on January 1, 2024. During January, the following transactions occurred: January 1 Issued common stock in exchange for $119,000 cash. January 2 Purchased inventory on account for $26,000 (the perpetual inventory system is used). January 4 Paid an insurance company $1,320 for a one-year insurance policy. Prepaid insurance was debited for the entire amount. January 10 Sold inventory on account for $11,100. The cost of the inventory was $6,100. January 15 Borrowed $21,000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months. January 20 Paid employees $5,100 salaries for the first