A young entrepreneurial jewelry maker has a new start-up, Be Jeweled, Inc. with a calendar year end of December 31, 2017. Complete the Journal Entries for all transactions listed for Be Jeweled, Inc. for the first two quarters ending June 30, 2017. Be sure to include a date for each journal entry. You do not need to provide explanations for the Journal Entries. The first Journal Entry has been done for you. Be sure to include column totals to compare your debit and credit totals as you complete the JE's. (16 points graded for accuracy and format, including appropriate Excel spreadsheet links and formulas) Transactions: 1 1/2/2017 Issued 7,000 shares of stock to investors consisting of friends and family. Shares were sold at par value of $20 each. 2 2/1/2017 Paid $2,232 in cash to purchase display equipment for the jewelry showroom. 3 2/1/2017 Puchased a building for office, workshop, and retail space for $249,600. They paid 30% down in cash and signed a 20 year mortgage note with a 5.5% interest rate for the rest. Principal and interest payments will be made annually. 4 2/3/2017 Purchased inventory on account for $69,530. 5 2/1/2017 The company purchased a twelve month insurance policy and paid cash in advance of $1,920. 6 2/26/2017 Recorded jewelry sales to a local art gallery, sold on account for $5,800. 7 3/1/2017 Received a 5 year loan of $300,000, requiring annual payments, from the bank. The annual interest rate was 5%. 8 3/27/2017 Paid $40,000 of the Account Payable for the inventory to the supplier. 9 4/30/2017 The company received a cash payment of $4,520 from the sales on account from the local art gallery. 10 6/30/2017 Jewelry sales in cash for February through June 30th were $57,800. 11 6/30/2017 Cost of Goods Sold for the February through June 30th sales (cash and credit) were $23,430. 12 6/30/2017 Salaries and wages expense for February through June 30th combined was $26,500. Of this total, $24,050 was paid in cash and $2,450 will be paid in July. 13 6/30/2017 The company records depreciation monthly. The building has a useful economic life of 40 years and the company uses the straight line depreciation method. Pay attention to the purchase date! 14 6/30/2017 The company records depreciation monthly. The display equipment has a useful economic life of 10 years and the company uses the straight line depreciation method. 15 6/30/2017 Insurance expense for Feb through June 30th is 5/12 of the amount paid in advance. 16 6/30/2017 The company accrued interest expense for the first five months they held the mortgage and the first four months they held the bank loan.