22.

The transactions relating to the formation of Blue Co. Stores, Inc., and its first month of operations follow.

a.	The firm was organized and the stockholders invested cash of $7,600.
b.	The firm borrowed $5,300 from the bank; a short-term note was signed.
c.	Display cases and other store equipment costing $1,500 were purchased for cash. The original list price of the equipment was $1,980, but a discount was received because the seller was having a sale.
d.	A store location was rented, and $1,450 was paid for the first month's rent.
e.	Inventory of $14,600 was purchased; $8,000 cash was paid to the suppliers, and the balance will be paid within 60 days.
f.	During the first week of operations, merchandise that had cost $3,300 was sold for $6,900 cash.
g.	A newspaper ad costing $120 was arranged for; it ran during the second week of the store's operations. The ad will be paid for in the next month.
h.	Additional inventory costing $4,100 was purchased; cash of $1,100 was paid, and the balance is due in 30 days.
i.	In the last three weeks of the first month, sales totaled $14,250, of which $9,300 was sold on account. The cost of the goods sold totaled $8,900.
j.	Employee wages for the month totaled $2,000; these will be paid during the first week of the next month.
k.	The firm collected a total of $3,500 from the sales on account recorded in transaction i.
l.	The firm paid a total of $4,800 of the amount owed to suppliers from transaction e.

Required:

Prepare the journal entries for each of these transactions.

Transaction General JournalDebit Credit