due in 20 minutes

15 Marles, 22.5 Minutes Journalve the following business transactions in journal form. You may om explanations. If no journal entry is required, you must state that no one required. Identify your answer by date. The business Year End is June 30, 2019. Each transaction is independent unless stated otherwise. 1. On Jan 4, 2019. you received $80,000 cash trom shareholders in payment for shares issued. 60% of the shares are common shares the remainder ore all preferred shares. 2. On May 19, 2019 you purchased a computer for $2.000, paying $1,500 in cash and the rest on account. They charged you 5% GST. 3. On June 25th, 2019 you paid $1,450 cash for a flight to Japan. The business trip takes place on July 11, 2020. 4. On May 4th, 2019 you sold $2000 worth of clothing to a new client on account. There is also 10% sales tax that was collected with this transaction 5. On June 17th, 2019 you signed a new contract with a large company. The contract value is worth $100,000. The work will begin in a month. The agreement is for 10 months and you will collect $10,000 each month. Interest of 3% will be charged on late payments. The terms are 2/10, 130 6. You are a concert promoter for Jay-Z. On April 21, 2019 you collected $432,000 cash for a concert that will take place May 19, 2021. 7. On July 14, 2018 yow paid cash to your one employee her monthly Nily wages. Her monthly salwy na 3.000. The income tax deduced med was $1,500. El deducted was $200 and CPP was $300. The employer matching portion is the exact same wars. The two will be in a day 3. On Jan 22, 2019. you sold merchandise to a customer for $1.500 sh. The merchandise cost 19.000. This is your lost time selling it and you waiting for your Accountant to advise you on whether the periodic or perpetual method is better so you decided to prepare the youth ways in order to fully understand the methods. 9. On November 26, 2018, you issued cash refund of $2,000 for services that you provided for a customer. 10. On August 21", 2018 you decided to write off a customer's balance owing of $500. They have filed for bankruptcy. You use the dired write a method 11. Refer to transaction #7, it's August 3, 2018 and you paid the government the taxes owed to them. 12. It's December 31 2018 and your yearly loan payment is due. The payment amount is $20,000. Of this amount $15.000 ot it goes towards the principle amount of the loan owing, the remainder of the amount is interest charged on the loan. You paid the full amount using cash. 13. It's June 30, 2019 and you go shopping for new office desks, you visit Staples and Office Depot. Staples offer you $500 per desk you buy 5 of them. Office Depot has a sale for $400 per desk. While at Office Depot you see a sale on printer ink and buy 5500 worth for your office supplies on your credit card. In the night you think about it and you decide that tomorrow you will go back to Staples and buy the desks using cash it they will price match to Office Depot. 12. It's December 31 2018 and your yeatly loan payment is due. The payment amount 20,000 of this mon $15.00 other amount of the loan owing the remainder of the amount is interes charged on the loan. You paid the mounting anh 13. It's June 30, 2019 and you go shopping for new office desks. You v Staples and office Depot Staples offer you 300 per desk you to Office Depot has a sale for $400 per desk While at Office Depot, you see a sale on printed in and buy 500 worth for your office supplies on yn cred card. In the night you think about it and you decide that tomorrow you will go back to Staples and buy the desting at they will price to Office Depot 14. On February 18, 2019 you receive the full payment from a customer that you sold 510,000 of services on account on February 10, 2019. The term were 1/10, 1/30