a) Please write out the journal entries for Logan Corporation transactions b) Create Logan Corp's income statement, sash flow statement and year end balance sheet. Logan Corp has the following transaction during the year: 1 On the first day of the year raises $100 of new long term debt with a 10% coupon. 2 The company then pays down the revolver to zero. 3 Buys $50 of inventory on account. 4 Buys new plant for $100 (pays in cash) 5 Sells $200 of its inventory for $500 (all on account). 6 Collects $525 of its accounts receivable 7 Accrues interest on its debt and pay the entire amount in cash. 8 Recognizes another $70 of depreciation expense. 9 Estimates for the year the company will have bad debt expense of 50 10 Hires an advertising agency. The company pays the advertising agency $150 in cash The ad agency only completes $85 worth of work in the year. 11 Accrues $50 of additional SG\&A expenses and pays for 45 worth in cash. 12 Accrues its taxes for the year (assume a 40% tax rate). Only pays for $5 worth