Halogen Laminated Products Company began business on January 1, 2016. During January, the following transactions occurred. Issued common stock in exchange for $100.000 cash. Purchased inventory on account for $35.000 (the perpetual inventory system is used. Paid an insurance company S2, 400 for a one-year insurance policy. Sold merchandise on account for $12,000. The cost of the merchandise was $7000. Borrowed $30000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months. Paid employees $6,000 salaries and wages for the first half od the month. Sold merchandise for $10,000 cash. The cost of the merchandise was $6,000. Paid $15.000 to suppliers for the merchandise purchased on January 2 Collected $6,000 on account from customers. Paid $1,000 to the local utility company for January gas and electricity. Paid$4.000 rent for the building. $2.000 was for January rent, and $2,000 for February rent. Prepare general journal entries to record each transaction. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.)