create a Journal include seperate adjusting enteries and closing enteries

All parts should L.. Creato a T-Account for all accounts listod betow. Don't forget to put them in colortll Loving Laurie's Laundry Corporation Chart of Accounts Loving Laurie's Laundry Transactions 1. On February 1, Loving Laurie decided to rent some of the unoccupied space in ber bailding. She received 511,544 from Happy Henry for 3 months rent. 2. On February I, Loving Laurie decided to replace her washers and dryers. At the end of last month, she sold off all of her equipment. Many of the machines were breaking down and she was getting tired of customer complaints. She parchased 73 washers and 68 dryers from Barney's Bargain Barn. Each washer cost $1,223 and each dryer cost $905. She made a down payment of $43,210 and put the remaining balance on account. Nll account balances must be fully paid within 3 months. The washers and dryers have an expected life 5.5 years, a salvage value of $17,697, and will be fally depreciated using the straight-line method. 3. On February 2, Loving Laurie noticed she needed sone extra supplies. She purchased $4,475 b. Worth of supplies on account from Danny's Discount Depot. 4. On February 4, Loving Laurie shovel's in the revemues.. literallyll She empties all of her 13 quarters, dimes, and nickels from the washers and dryers into buckets. She loves counting coins and counted a total of 22,777 quarters, 16,304 dimes, 7,541 nickels, and 15,130 pennies1! 5. On February 6, Loving Laurie decided to buy the land next to ber business since it was so cheap. She paid $10,846 for the land. She plans on using the land for additional parking space during peak washing times! 6. On February 7, Loving Laurie received cash from some of her elients who had put their washing 43 and drying fees on account last month. She received a total of $239 from her customers. 7. On February 10, Loving Laurie hires Joyful Jenny. She thought she would be great for business since she is full of joy!! Her duties will include assisting customers and cleaning the machines. it is expected that she will work 45 hours this month at a rate of $10.40 an hour. 8. On February 13, Loving Laurie empties ber machines and counts her coins. She counted 11, 046 quarters, 6,319 dimes, 4,014 niekels, and 12,090 pennies. Laurie also allows some of her customers to pay later if they like. She uses her magie key to start the machines for these particular customers. All customers must pay their balance owed within 30 days. Laurie needs to recognize additional revenues of $1,008 on account. (Note: All of this information can be recognized in a single transaction). 9. On February 14, Loving Laurie contacted Loan Shark Sally about obtaining a loan. Bamey's Bargain Barn needed $88,800 of the balance due from Latrie. Therefore, Laurie got a loan from Sally in the amount of $88,800 to pay off some of her balance. The loan will be paid off in 6 equal installments due August 14th and February 14th for each of the next 3 years. Sally will charge 32% interest on the loan. Interest will be paid with each installment. (Note: there are two transactions occurring here, first recognize the loan and then pay your liability). 10. On February 17, Loving Laurie paid Awesome Ad's $833 for flyers to hang around town. The flyers contain information about Laurie's new machines and are expected to increase her revenues by a whopping 55.77% within a year. Laurie expenses this immediately. 11. On February 19, Loving Laurie decided to pay dividends of $1,727 to stockholders. 12. On February 20, Loving Laurie empties her machines. She counted a total of $3,915 in coins! 13. On February 21, Loving Laurie decided she needed a vacation. She put signs up letting customers know that the Laundromat will be closed until February 23rd. She expects to lose 5,333 quarters, 2,017 dimes, 1,546 nickels, and 1,775 pennies worth of business during this time. 14. On February 23, Loving Laurie realized she made a mistake. When she last recognized revenues, she accidentally recorded 444 quarters, 134 dimes, 27 nickels, and 125 pennies that came out of her purse and not the machines. Laurie needs to correct this mistake ASAP!! 15. On February 25, Loving Laurie pays Joyful Jenny $484 cash for her excellent work. Congratulations to Jenny as she earned the prestigious "Loving Laurie's Laundry Employee of the Month Award." 16. On February 27, Loving Laurie counted her coins \& tallied up her revenues from customers that owed her money. She needs to recognize 29,755 quarters, 8,541 dimes, 14,242 nickels, 37,505 pennies, as well as, $1,141 from customers who put their washing \& drying fees on account. Adiustments On February 28, you notice the following: a) You have used up one months worth of insurance (On September 1, Laurie purchased a 9month insurance policy for $6,903 ). b) You need to recognize depreciation on the equipment (washers and dryers). c) You have earned one months worth of rent d) You have only $1,743 worth of supplies on hand. e) You need to recognize interest accumulated on the loan. f) You need to recognize depreciation for the month on a building you bought on August 1t, 2021. It has an expected life of 35 years, a $315,315 salvage value, and you use straightline depreciation. See chart of accounts for cost information. g) You have accrued salaries of $1,160. h) You need to recognize/accrue federal income taxes of 28%. Round to the nearest dollar if needed. Hint: compute adjusted income based on all preceding information, and then determine and record income tax expense All parts should L.. Creato a T-Account for all accounts listod betow. Don't forget to put them in colortll Loving Laurie's Laundry Corporation Chart of Accounts Loving Laurie's Laundry Transactions 1. On February 1, Loving Laurie decided to rent some of the unoccupied space in ber bailding. She received 511,544 from Happy Henry for 3 months rent. 2. On February I, Loving Laurie decided to replace her washers and dryers. At the end of last month, she sold off all of her equipment. Many of the machines were breaking down and she was getting tired of customer complaints. She parchased 73 washers and 68 dryers from Barney's Bargain Barn. Each washer cost $1,223 and each dryer cost $905. She made a down payment of $43,210 and put the remaining balance on account. Nll account balances must be fully paid within 3 months. The washers and dryers have an expected life 5.5 years, a salvage value of $17,697, and will be fally depreciated using the straight-line method. 3. On February 2, Loving Laurie noticed she needed sone extra supplies. She purchased $4,475 b. Worth of supplies on account from Danny's Discount Depot. 4. On February 4, Loving Laurie shovel's in the revemues.. literallyll She empties all of her 13 quarters, dimes, and nickels from the washers and dryers into buckets. She loves counting coins and counted a total of 22,777 quarters, 16,304 dimes, 7,541 nickels, and 15,130 pennies1! 5. On February 6, Loving Laurie decided to buy the land next to ber business since it was so cheap. She paid $10,846 for the land. She plans on using the land for additional parking space during peak washing times! 6. On February 7, Loving Laurie received cash from some of her elients who had put their washing 43 and drying fees on account last month. She received a total of $239 from her customers. 7. On February 10, Loving Laurie hires Joyful Jenny. She thought she would be great for business since she is full of joy!! Her duties will include assisting customers and cleaning the machines. it is expected that she will work 45 hours this month at a rate of $10.40 an hour. 8. On February 13, Loving Laurie empties ber machines and counts her coins. She counted 11, 046 quarters, 6,319 dimes, 4,014 niekels, and 12,090 pennies. Laurie also allows some of her customers to pay later if they like. She uses her magie key to start the machines for these particular customers. All customers must pay their balance owed within 30 days. Laurie needs to recognize additional revenues of $1,008 on account. (Note: All of this information can be recognized in a single transaction). 9. On February 14, Loving Laurie contacted Loan Shark Sally about obtaining a loan. Bamey's Bargain Barn needed $88,800 of the balance due from Latrie. Therefore, Laurie got a loan from Sally in the amount of $88,800 to pay off some of her balance. The loan will be paid off in 6 equal installments due August 14th and February 14th for each of the next 3 years. Sally will charge 32% interest on the loan. Interest will be paid with each installment. (Note: there are two transactions occurring here, first recognize the loan and then pay your liability). 10. On February 17, Loving Laurie paid Awesome Ad's $833 for flyers to hang around town. The flyers contain information about Laurie's new machines and are expected to increase her revenues by a whopping 55.77% within a year. Laurie expenses this immediately. 11. On February 19, Loving Laurie decided to pay dividends of $1,727 to stockholders. 12. On February 20, Loving Laurie empties her machines. She counted a total of $3,915 in coins! 13. On February 21, Loving Laurie decided she needed a vacation. She put signs up letting customers know that the Laundromat will be closed until February 23rd. She expects to lose 5,333 quarters, 2,017 dimes, 1,546 nickels, and 1,775 pennies worth of business during this time. 14. On February 23, Loving Laurie realized she made a mistake. When she last recognized revenues, she accidentally recorded 444 quarters, 134 dimes, 27 nickels, and 125 pennies that came out of her purse and not the machines. Laurie needs to correct this mistake ASAP!! 15. On February 25, Loving Laurie pays Joyful Jenny $484 cash for her excellent work. Congratulations to Jenny as she earned the prestigious "Loving Laurie's Laundry Employee of the Month Award." 16. On February 27, Loving Laurie counted her coins \& tallied up her revenues from customers that owed her money. She needs to recognize 29,755 quarters, 8,541 dimes, 14,242 nickels, 37,505 pennies, as well as, $1,141 from customers who put their washing \& drying fees on account. Adiustments On February 28, you notice the following: a) You have used up one months worth of insurance (On September 1, Laurie purchased a 9month insurance policy for $6,903 ). b) You need to recognize depreciation on the equipment (washers and dryers). c) You have earned one months worth of rent d) You have only $1,743 worth of supplies on hand. e) You need to recognize interest accumulated on the loan. f) You need to recognize depreciation for the month on a building you bought on August 1t, 2021. It has an expected life of 35 years, a $315,315 salvage value, and you use straightline depreciation. See chart of accounts for cost information. g) You have accrued salaries of $1,160. h) You need to recognize/accrue federal income taxes of 28%. Round to the nearest dollar if needed. Hint: compute adjusted income based on all preceding information, and then determine and record income tax expense