Fire and Safety Inc. is a new start-up, selling fire safety services and products to its customers. The following activities occurred in month 1. Prepare the journal entries for the following transactions: a) Issued 25,000 shares with a $17.50 per share market value. b) Bought a building for $250,000 and Land for $100,000. Paid 25% in cash and the balance with a 10-year, 4% interest note payable. c) Paid insurance premiums, quarterly in advance, in the amount of $5,925. d) Purchased $32,500 of inventory, 30% cash and the balance on credit. e) Paid utilities bill for $350. f) Negotiated an annual contract to provide safety services to the university for $125,000/year g) Sold $22,750 of services on account, no parts were required. h) Collected a $5,500 cash deposit from customers for custom orders. i) Paid salaries and wages of $8,500. g) Sold $22,750 of services on account, no parts were required. h) Collected a $5,500 cash deposit from customers for custom orders. Paid salaries and wages of $8,500. Paid the balance owing on inventory previously purchased in part d). k) Received $7.700 from customers on account. 1) Declared and paid a $2,500 dividend