D P 2-1 Accounting cycle through unadjusted trial balance CL02-3, 1024 Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred: Jan. 1 Issued common stock in exchange for $ 100,000 cash. 2 Purchased inventory on account for $35,000 (the perpetual inventory system is used). 4 Paid an insurance company $2,400 for a one-year insurance policy. Prepaid insurance was debited for the entire amount. 10 Sold merchandise on account for $12,000. The cost of the merchandise was $7,000. 15 Borrowed $30,000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months. 20 Paid employees $6,000 salaries for the first half of the month. 22 Sold merchandise for $10,000 cash. The cost of the merchandise was $6,000. 24 Paid $15,000 to suppliers for the merchandise purchased on January 2. 26 Collected $6,000 on account from customers. 28 Paid $1,000 to the local utility company for January gas and electricity. Paid $4,000 rent for the building. $2,000 was for January rent, and $2,000 for February rent. Prepaid rent and rent expense were debited 30 for their appropriate amounts. Required: 1. Prepare general journal entries to record each transaction. Omit explanations. 2. Post the entries to T-accounts. 3. Prepare an unadjusted trial balance as of January 30, 2021