a. January 1 -Fairmount Corporation issued additional shares of common stock to the public. The shareholders invested $350,000 cash and received 45,000 shares of $0.10 par value common stock. b. January 1 - Paid rent on the building for the months of January, February and March totaling $8,000. c. January 1 Ordered $18,000 merchandise inventory, that will be paid on credit, from an established vendor. d. January 4 - Purchased office equipment for $127,500, paying $50,000 in cash and signing a six-month note for the balance. e. January 5 The merchandise inventory ordered on January 3, was delivered along with a bill for $18,000. f. January 15 - Borrowed $152,000 from a bank and signed a three-year note payable at 7% interest. g. January 21 - From the inventory that was received on January 5, sold merchandise on credit for $5,000. The merchandise inventory cost Fairmount $3,000. (Hint: Need two entries) h. January 31 - Employees earned $48,750 during the last week of January and will be paid during the next pay cycle, which will be February 7. i. January 31 - Declared $22,000 in dividends that will not be paid until February 22. j. January 31 Due to system errors at the utility company, Fairmount did not receive an invoice from the utility company. Fairmount called the utility company and was told that an invoice is not expected to be generated until early March due to the inability to calculate an accurate billing until most likely early March. The utility bills for September, October and November of the prior year was $1,100, $1,050 and $1,225, respectively. Required: On the journal entry template below, prepare journal entries for each transaction above for the month of January.