At the beginning of October, in 2018, Jerry Sunshine started a bookkeeping company Dollars Make Cents. The company had the following transactions during October: Create a General Journal, and then post to a General ledger

October 2 Jerry invested cash of $28,000, computer equipment of $8,200 and a vehicle valued at $28,000 in the business in exchange for common stock.

5 The company paid a total of $2,400 rent for October and November.

6 The company purchased state of the art document scanning and imaging equipment by paying $9,200 up front and financing the balance of $7,400 with a note payable to the bank.

7 The company purchased a 12 month insurance policy for $4,800. The policy is effective on October 1.

8 The company purchased office supplies and paper for $850 on account. 9 The company sold (5) payroll service packages, covering 6 months of fully automated payroll service for $6,000 each. The regular price was $6,500 each, but the customers received a discount for paying for the service up front. Each company will receive 2 payroll runs per month. One on the 15th and one on the 30th of each month.

13 The company provided $5,600 of tax consulting services to clients on account.

14 The company ran its first payroll service for two of the companies. The other three companies were not yet ready to begin running payroll.

15 The company paid $2,100 cash for two weeks salary earned by two employees.

22 The company purchased $950 for October advertising on account.

21 The company received a $40 rebate on the paper and supplies purchased on the 8th. (This is your challenge question)

24 The company provided $8,200 of tax services to clients and received payment.

27 The company collected $2,000 from clients that were provided service on account on the 13th.

28 The company paid 1/2 of the bill for paper and supplies that was purchased on the 8th.

29 The company paid $2,100 cash for two weeks salary earned by two employees.

30 The company ran payroll service for all five companies that purchased service in October. 30 The company paid dividends of $700.

31 An employee and received a $300 advance for November travel for the company.