For each of the following transactions, prepare journal entries: (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

a.	Inventory costing $2,800 was purchased on account.
b.	A payment of $3,000 was made on accounts payable.
c.	Inventory costing $2,000 was sold on account for $2,800. (Hint: Two journal entries are required.)
d.	Accounts receivable of $2,200 were collected.
e.	Supplies costing $1,500 were purchased on account.
f.	Supplies costing $600 were consumed during the period.
g.	New equipment costing $6,700 was purchased for cash.
h.	The company borrowed $13,000 from a bank. (Use Bank Loan Payable)
i.	The company issued common shares for $18,000.
j.	Wages totalling $6,800 were earned by employees and paid to them.
k.	The company paid $2,100 on its bank loan, which included $130 of interest.
l.	The company paid $2,300 for the monthly rent on its leased premises.
m.	Land costing $22,000 was purchased. The company paid $3,000 in cash and the remainder was financed with a mortgage (a long-term loan). (Use Mortgage Payable)

List of Accounts:

• Accounts Payable
• Accounts Receivable
• Accumulated Depreciation-Buildings
• Accumulated Depreciation-Equipment
• Accumulated Depreciation-Trucks
• Accumulated Depreciation-Vehicles
• Advertising Expense
• Buildings
• Cash
• Common Shares
• Cost of Goods Sold
• Depreciation Expense
• Dividends Payable
• Equipment
• Income Tax Payable
• Interest Expense
• Interest Payable
• Inventory
• Land
• Miscellaneous Expense
• Notes Payable
• Operating Expense
• Other Expenses
• Prepaid Insurance
• Prepaid Rent
• Rent Expense
• Rent Revenue
• Retained Earnings
• Selling and Administrative Expenses
• Supplies Expense
• Wages Payable
• Wages Expense
• Advances to Employees
• Bank Loan Payable
• Deposits
• Dividend Revenue
• Dividends Declared
• Income Tax Expense
• Income Summary
• Insurance Expense
• Interest Revenue
• Interest Receivable
• Licence Expense
• Long-Term Investments
• Mortgage Payable
• No Entry
• Notes Receivable
• Supplies
• Prepaid Licence
• Prepaid Property Tax
• Property Tax Expense
• Repair and Maintenance Expense
• Sales Revenue
• Service Revenue
• Short-Term Investments
• Telephone Expense
• Unearned Revenue
• Utilities Expense
• Vehicles

No. Account Titles and Explanation Debit Credit a. b. C. (To record sale of goods) (To record the cost) d. e. f. g. h. i. j. k 1. m