Fill out the jounral entries.

Transaction #1 On January 1, 2015, Ted Mason invest $10o,000 in exchange of 1,000 shares of S1 par Common Stock. Transaction #2 On January 1, 2015, Mason Yachts pre-Pays the following expenses for the next 12 months: Rent Expense $12,00o and Insurance Expense $1,200o Transaction #3 On January 1, 2015, Mason Yachts buys $3,000 worth of office supplies with cash. Transaction #4 On January 1, 2015 Mason Yachts hires three employees: John Mason, Office Manager, Frank Mason, Repairs Manager, and McCoy Mason, Sales Manager. Each of the three employees will have a monthly salary of $4,000 which will be paid on the 5th day of the next month. Transaction #5 On January 1, 2015 Mason Yachts buys $36,000 worth of machines that will be used in modifying boats that will be sold. Mason noted that these machines will have useful life of 6 years and no salvage value at the end of the 6 years. Mason will use the straight-line depreciation method in depreciating the asset. Mason bought these machines with cash. Transaction #6 On January 2nd, Ozark Boats pre-pays Mason Yachts $10,000 to perform repair services on 5 boats. For each boat repaired, Mason Yacht will receive $2,000 in revenue. Transaction #7 On January 2nd, John Mason purchased 5 Boats for $4,000 each at the boat action. These boats are ready re-sale and were put into inventory on this date. Ted purchased these boats on account and will be paid in 90 days. On January 15th, Mason Yachts sold 2 Boats for S10,000 each to a customer. The customer will pay in cash for these boats in 30 days. (Hint: Remember there are two entries with a sale of goods) Transaction #8 Transaction #9 On January 30th, Mason Yachts announcee that is has declared and paid a dividend of S1 to all shares of common stock. Week 1 Journal Entries Account # Account Description Beginning Balance Debit Credit Balance 1000 Cash 1100 Accounts Receivable 1150 Allowance for Doubtful Accounts 1200 Inventory 1300 Pre-Paid Expense 1400 Supplies 1500 Machines 1550 Accumulated Depreciation Machine 2000 Accounts Pavable 2100 Unearned Service Revenue 2200 Wages and Salaries Payable 000 Common Stock C-Fai o Additional Paid In Capital 100 Dividends 3200 Retained Earnings 000 Revenue-Yacht Sales 100 Revenue-Repair Services 000 Cost of Goods Sold 6000 Wages and Salaries Expense 6100 Rent 6200 Supplies Expense 6300 Insurance ense o0 Depreciation oo Interest Income nse 6600 Bad Debt Expense