create a balance sheet for Lucy's swim supplies

In-class worksheet: Week 2 Lucy's Swim Supplies Lucy's Swim Supplies is a company founded by two founders that sells swimwear and swim accessories. The company is registered as a corporation on January 1, 2018. During the first month as a corporation, the following transactions took place. Record journal entries (noting whether each account is an Asset, Liability, or Shareholders' Equity), post the transactions to Taccounts, and prepare the balance sheet as of January 31, 2018. Ignore any adjusting or closing entries. (a) On January 1, Lucy contributed $200,000 in cash in exchange for 5,000 shares of ownership in the company. Each share has a par value of $1. (b) On January 1, the other founder contributed his own vehicle, valued at $40,000, and $160,000 in cash in exchange for 5,000 shares. The vehicle has a remaining useful life of 8 years. (c) On January 4, Lucy's Swim Supplies prepaid $8,000 for 2 months of storefront rent. (d) On January 6, Lucy's Swim Supplies signed a credit agreement with a local bank for a oneyear $100,000 loan. The interest rate is 11%, payable at the end of the year. (e) On January 9, Lucy's Swim Supplies purchased 300 swimsuits from a vendor, on credit, at a total price of $3,000. (f) On January 12, Lucy's Swim Supplies signed a contract with the YMCA to provide 100 swimsuits at a total price of $1,500 in February. No payment has been received. (g) On January 17, the YMCA made an advance payment of \$750 to Lucy's Swim Supplies for the 100 swimsuits. (h) On January 20, Lucy's Swim Supplies made a payment of $2,000 to the swimsuit vendor for the inventory purchased in (e). (i) On January 24, Lucy's Swim Supplies purchased computer equipment for $1,500 in cash. (j) On January 27, Lucy's Swim Supplies made a payment of $1,000 to the swimsuit vendor for the inventory purchased in (e)