Birzeit IT Services Company was formed on October 1, 2020. Journalize and post the following transactions that took place during the first three months. 1. October 1, 2020, Omar invested $40,000 cash in the company, as its sole owner. 2. October 1, 2020, hired two employees to work in the office. They will each be paid a salary of $1,050 per month. 3. October 1, 2020, paid $12,000 cash in advance for the first year's office rental. 4. October 1, 2020, purchased furniture and equipment costing $15,000. A cash payment of $8,000 was made immediately; the remainder will be paid within 6 months. 5. October 8, 2020, paid advertising expenses $100. 6. October 31, 2020, paid the monthly salaries of the two employees, totaling $2,100. 7. November 1, 2020, paid $1,800 cash for a one-year insurance policy on the furniture and equipment. 8. November 8, 2020, purchased basic office supplies for $420 cash. 9. November 15, 2020, received $2,100 cash for services performed for customers. 10. November 30, 2020, paid the monthly salaries of the two employees, totaling $2,100. 11. December 9, 2020, earned a total revenue of $5,000-$3,000 cash and $2,000 on account. 12. December 13, 2020, Omar withdraws $500 cash for personal use. 13. December 15, 2020, hired two employees to begin work on December 20. Each employee is to receive a weekly salary of $250 for a 5-day work week (Sunday - Thursday), payable every week. 14. December 17, 2020, purchased more office supplies for $1,500 on account. 15. December 19, 2020, paid $1500 to suppliers for accounts payable due. 16. December 20, 2020, Birzeit IT Services Company owes employee salaries of $500 and pays them in cash. 17. The company collected $15,300 from a customer in December 2020 for services to be performed in 2021. 18. December 24, 2020, received $1,500 from customers in payment of accounts receivable. 19. December 31, 2020, paid the monthly salaries of the two employees, totaling $2,100.

Hirzeit IT Services Company was formed on Octeber 1, 2020. Journalime and pont the follewing transactions that took place during the first three months. 1. October 1, 2020. Omar invetted $40,000 cash in the company, as ins sole owner. 2. October 1. 2020, hired twe employees to work in the effice. They will each be puid a salury of $1050 per month. 3. October 1. 2020 , paid $12,000cash in advance for the fint year's office rental. 4. October 1, 2020, puschased furmiture and equipment conting 515000. A cast puymeat of 58900 was made immediatly; the remainder will be paid within 6 months. 5. October \&, 2020, paid advertisiag expenses $100 6. Ocuber 31, 2020, pad the moathly walaries of the two empicyees, totaling 52,100 . 7. November 1, 2320, paid 51,300 cash for a one-yem insurance policy an the furmiture and equipencent. 8. November 8, 2020, purchased basic office supplies for 5420cash. 9. November 15, 2020, received 52,100 cath for services performed for customen. 10. Novenber 30, 2020, pwid the monthly salaries of the twe employees totaling 52,100. 11. December 9, 2020, cirned a twal revenue of 55,00053,000cah and $2,000 co axoxut. 12. December 13, 2020, Orar withalraws 5500 cah for perional wse. 13. December 15, 2920, hired two empiloyees to begin work on December 20. Earh employee is to receive a weekly salary of $250 for a 5-day work week (Sunday - Thunday), payable cerry weck 14. December 17, 2020, purchased mose office supplies for 51,900 oe account. 15. December 19, 2020, paid 51500 wo suppliers for accounts payable due. 16. Decenber 20, 2020, Birzeit IT Services Company ewes emiployee salanes of $900 and pays them in cash. 17. The compuny oollected $15,300 froen a customer is December 2030 for services on be performed in 2021. 18. December 24, 2020, received 51,500 from customers in payment of accounts recaivable: 19. December 31. 3020, paid the monthly salaries of the two enployees, toealing $2,100