Date

$1$ Owners invest $$17,000$ of additional cash in the business.

$2$a$.$ Supplies are purchased for $$500$ on account.

$2$b Insurance is paid for $12$ months beginning January $1$: $$5,880($Record as an asset$)$

$2$c Rent is paid for $3$ months beginning in January: $$2,400($Record as an asset$)$

$2$d Two employees are hired. Each employee will be paid $$800$ per month

$3$ FFD borrows $$20,000$ from $1^{st}$ State Bank at $6\%$ annual interest.

A delivery van is purchased for cash. Including tax the total cost was $$26,400.$ It

$6$ will be used for $4$ years and will be depreciated monthly using straight$-$line with

no salvage value. A full month of depreciation will be charged in January.

$7$$$280$ of the receivables from December's sales are collected.

$8$$$80$ of the accounts payable from December are paid.

$9$ Performed services for customers on account. Mailed invoices totaling $$8,000.$

$10$ Services are performed for cash customers: $$5,600.$

$16$ Wages for the first half of the month are paid on January $16$: $$800.$

$20$ The company receives $$2,000$ from a customer for an advance order for services

to be provided in January and February.

$25$ Collections from customers on account $($see January $9$ transaction$)$: $$3,200$

$30$a The last $2$ weeks wages earned by employees are $$400$ per employee and will

be paid on February $3.$

$30$b A $$500$ utility bill for January arrived. It is due on February $15.$

Additional Information for adjusting entries at January $31$:

a$.$ Supplies on hand on January $31$ total $$140.$

b$.$ The company completed $60\%$ of the deliveries for the customer who paid in advance

on lan$$arn$?$nSteps for Francine's rast Deliveries, Inc. $(1+H$ was organized in December of $2011.$ It had limited

activity in $2011.$ The resulting balance sheet at the beginning of $2012$ is provided below:

January Transactions for Francine's Fast Deliveries, Inc. $($FFD$)$

Date

$1$ Owners invest $$17,000$ of additional cash in the business.

$2$a$.$ Supplies are purchased for $$500$ on account.

$2$b Insurance is paid for $12$ months beginning January $1$: $$5,880($Record as an asset$)$

$2$c Rent is paid for $3$ months beginning in January: $$2,400($Record as an asset$)$

$2$d Two employees are hired. Each employee will be paid $$800$ per month

$3$ FFD borrows $$20,000$ from $1^{st}$ State Bank at $6\%$ annual interest.