Date Account No. & Title Debit Credit Feedback Jan. Jan. 1 Tom, Lisa, Katie and Tim each contributed 250,000 in exchange for Common Stock of the TLKT Corporation The company purchased a building and land worth 200,000 and 100,000, respectively by putting 20% down 1 and carrying a mortgage on the balance. Jan. Jan. Note: List debits first iorder of magnitude (Largest amount first, then smallest amount then list credits after all debits have been entered in order of magnitude as well. Jan. Jan. 2 The company purchased 1,000 units of inventory at $50 per unit on account. X 8 8 8 8 8 8 8 8 8 8 8 8 Jan. Jan. 3 The company purchased a 1 year insurance policy for $3,600 X Jan. Jan. 4 The company purchased $2,400 of supplies X Jan. X Jan. 15 The company received $40,000 for 10 service jobs to be completed in the future X The company sold inventory for $60,000 receiveng 15,000 in cash and the remainder on account; record Jan. 17 the sale first. Jan. X Note: List debits first iorder of magnitude (Largest amount first, then smallest amount then list credits after all debits have been entered in order of magnitude as well. The inventory sold was worth 20,000. Record all debits first then all credits; record the reduction of Jan. 17 inventory second Jan. X X Jan. Jan. 24 The company completed 3 service jobs for $5,000 each. Jan. Jan. 29 The company declared a dividend of 1,000 to be paid to the shareholders on record on Feb 15