A new corporation, ABC Corporation, was created on January 1 of the current year
The following transcations occurred during the month of January of the current year:
Date		Amount
1-Jan	The owners put money into the corporation checking account in exchange for shares of common stock	131,891
1-Jan	The corporation rented a building and paid the first six months rent	39,511
1-Jan	The corporation bought equipment and furniture on account	49,007
1-Jan	The corporation hired employees who will be paid the following for each month worked on the 10th of the following month	29,606
5-Jan	The corporation bought supplies and paid cash	3,338
7-Jan	The corporation bought inventory and paid cash	29,851
10-Jan	The corporation pays for advertising in the local newspaper and paid cash	896
10-Jan	The corporaiton pays for one year of insurance and paid cash	2,691
11-Jan	The corporation makes cash sales	39,670
14-Jan	The corporation makes sales on account	80,658
31-Jan	The corporaiton counts the inventory remaining at the end of the month	18,597
31-Jan	The corporation counts the supplies remaining at the end of the month	1,409
31-Jan	The corporation paid some of what it owed on account	24,503
31-Jan	The corporation collects money owed to them on account	42,426
31-Jan	The corporation decides to depreciate the furniture and equipment over 60 months
Make the journal entries required for the month of January in the space below