Create a general journal for information below:

1. Received cash of $40,000 and $60,000 for machinery in exchange for common stock.
2. Paid six months rent for the store at $5,000 per month (five months are prepaid).
3. Purchased inventory for $50,000 on account (2/10 and n/30 days.)
4. Purchased supplies for $7,700 on account.
5. Made sales on account for $98,000 with the costs of $49,000 at 2/10, n/30.
6. Negotiated and signed a two-year $100,000 loan at the bank, receiving cash at the time.
7. Used the money from (f) to purchase several computers for $7,500; then used the balance for a vehicle-$35,000 and equipment-$57,500 for the shop.
8. Received payment for sales in (e) within the discount period.
9. Paid expenses: advertising expense of $8,000 and salaries of $18,500.
10. Made sales for cash totaling $78,000 with a costs of $36,000.
11. Made a payment on inventory accounts payable balance of $40,000 from transaction c above within the discount period.
12. Collected accounts receivable of $28,000 from customers after discount period.
13. Business is going well so issued more common stock. Sam purchased par value stock of $10,000 for $20,000 cash.
14. (Record Deprecation: Help-all assets have no salvage value. Estimated useful lives: computers-3 years; vehicle-5 years; equipment-15 years; machinery-7 years.
15. Received a cash payment for widgets in advance of $25,000. Will deliver it next month.
16. Office supplies on hand at the end of month were $3,000.