Galle Inc. entered into the following transactions during January.

1. January 1: Borrowed $265,000 from First Street Bank by signing a note payable.
2. January 4: Purchased $25,000 of equipment for cash.
3. January 6: Paid $500 to landlord for rent for January.
4. January 15: Performed services for customers on account, $7,700.
5. January 25: Collected $3,000 from customers for services performed in Transaction d.
6. January 28: Purchased land for $300,000 by paying $27,000 cash and obtaining a loan for the balance.
7. January 30: Paid salaries of $3,000 for the current month.

Required:

Prepare journal entries for the transactions. If an amount box does not require an entry, leave it blank.

Jan. 1Accounts ReceivableCashNotes PayableNotes ReceivableService Revenue Accounts ReceivableCashEquipmentNotes PayableNotes Receivable 4Accounts PayableAccounts ReceivableCashEquipmentService Revenue Accounts PayableAccounts ReceivableCashEquipmentService Revenue 6Accounts PayableCashRent ExpenseRent PayableRent Revenue Accounts PayableCashRent ExpenseRent PayableRent Revenue 15Accounts PayableAccounts ReceivableCashNotes PayableService Revenue Accounts PayableAccounts ReceivableCashNotes PayableService Revenue 25Accounts PayableAccounts ReceivableCashNotes PayableService Revenue Accounts PayableAccounts ReceivableCashNotes PayableService Revenue 28Accounts PayableCashLandNotes PayableService Revenue Accounts PayableAccounts ReceivableCashLandService Revenue- Select -- Select - Accounts PayableAccounts ReceivableLandNotes PayableService Revenue- Select -- Select -30Accounts ReceivableCashNotes PayableSalaries ExpenseWages Payable- Select -- Select - Accounts ReceivableCashNotes PayableSalaries ExpenseWages Payable- Select -- Select