CHILI a sauce Company has the following transaction following activities during Year 1:

1.1.January 1, Year 1: CHILI issues 10,000 shares of stock at 30 par share.

1.2.January 20, Year 1: CHILI purchases a building for 50,000 and purchases computer equipment for 20,000. It pays 50% of the price in cash and the other 50% through a bank loan.

1.3.March 10, Year 1: CHILI acquires finished goods (Chili sauce) for 30,000. CHILI pays cash for 50% of the merchandise and the remainder goods are purchased on account.

1.4.March 30, Year 1: CHILI pays 30,000 in employee salaries.

1.5.July 1, Year 1: CHILI decides to rent additional building space and pays for six months rent, at 2000 a month.

1.6.August 31, Year 1: CHILI sells all of the finished goods for 500,000, of which 300,000 is received 1 month later and the remainder is received in cash. Remember to book the accurate COGS (Cost of Good Sold) for 6% of the sales. CHILI expects to collect 90% of its credit sales.

1.7.October 30, Year 1: CHILI collects 100,000 in cash from its accounts receivable, and uses this money to pay down its accounts payable.

1.8.December 30, Year 1: amortization period for the building is 10 years and 3 years for the equipment.

1.9.December 30, Year 1: CHILI has an expense of 50,000 for travelling that should be paid during the same month.

1.10. December 30, Year 1: CHILI pays 150,000 in dividends.

Make entries to record the above transactions. You may use the Balance Sheet Equation or a journal entry.