Halogen Laminated Products Company began business on January 1, 2018. During January, the following transactions occurred:

Jan.1Issued common stock in exchange for $110,000 cash.2Purchased inventory on account for $45,000 (the perpetual inventory system is used).4Paid an insurance company $3,600 for a one-year insurance policy.10Sold merchandise on account for $13,000. The cost of the merchandise was $8,000.15Borrowed $40,000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months.20Paid employees $7,000 salaries and wages for the first half of the month.22Sold merchandise for $11,000 cash. The cost of the merchandise was $7,000.24Paid $16,000 to suppliers for the merchandise purchased on January 2.26Collected $6,500 on account from customers.28Paid $1,100 to the local utility company for January gas and electricity.30Paid $5,000 rent for the building. $2,500 was for January rent, and $2,500 for February rent.

Required:

1.Prepare general journal entries to record each transaction.

2.Post the transactions into the appropriate T-accounts.

3.Prepare an unadjusted trial balance as of January 30, 2018.