Create the following journal entires. 1 You form the business with $15,000 of cash and $5,000 of equipment. 2 Buy $400 of coffee cups to mark with our logo and sell. Purchased with cash. 3 Buy $1,000 of coffee grounds on credit (not cash) 4 Buy a $10,000 coffee roaster. It should last 6 months before being unusable (1,000 scrap value). 5 Over the next 4 weeks, sell $8,000 of brewed coffee (using $400 of grounds) 6 Over the next 4 weeks, sell $350 of coffee mugs for $600. We bill the client and expect to be paid within 30 days. 7 Record depreciation on coffee roaster 8 We are paid $1,000 in cash as a deposit for an event next month 9 We receive $500 in cash as partial payment for the mugs previously purchased in ID #6 10 We pay owners $1000 11 We pay employees $3,000 in cash. Financial Statements Stockholder's Equity, Jan 22 Balance Sheet, as of Jan 30, 2022 Income Statement, Jan 2022 Common Stock Revenue Service Revenue Sales Revenue Cost of Goods Sold Gross Profit $0 $0 $0 $0 Retained Earnings Net Income Dividends Ending RE $0 Assets Cash $0 Accounts Receivable $0 Equipment $0 Accumulated Deprec $0 Coffee Grounds Inventory Net Assets $0 $0 $0 $0 $0 $0 $0 Less Other Expenses/Losses Interest Expense Depreciation Expens Salary Expense Net Income $0 $0 $0 $0 Liabilities Unearned Revenue Accounts Payable $0 $0 Equity Common Stock Retained Earnings $0 $0 Net Liabilities & Equi $0 Error? SO ABC Coffee Company - Journal Account Hanc - ID Debit Credit 1 - $ 23 $ 23 2 2 3 3 3 4 0 1 2 5 + 5 6 7 9 0 6 3 4 5 6 7 7 3 8 9 2 3 4 5 6 7 3 9 10 1 2 11