Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred: Jan. 1 Issued common stock in exchange for $100,000 cash. 2 Purchased Inventory on account for $35,000 (the perpetual inventory system is used). 4 Paid an insurance company $2,400 for a one-year insurance policy. Prepaid insurance was debited for the entire amount. 10 Sold merchandise on account for $12,000. The cost of the merchandise was $7,000 15 Borrowed $30,000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months. 20 Paid employees $6,000 salaries for the first half of the month 22 Sold merchandise for $10,000 cash. The cost of the merchandise was $6,000 24 Paid $15,000 to suppliers for the merchandise purchased on January 2. 26 Collected $6,000 on account fron customers. 28 Paid $1,000 to the local utility company for January gas and electricity. 30 Paid $4,000 rent for the building. $2,000 was for January rent, and $2,000 for February rent. Prepaid rent and rent expense were debited for their appropriate anounts. es 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, 2021 Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Journal entry worksheet Issued common stock in exchange for $100,000 cash. Note: Enter debits before credits General Journal Debit Credit Date Jan 01, 2021 Record enty Clear entry View general journal Journal entry worksheet ..... Paid an insurance company $2,400 for a one-year insurance policy. Prepaid insurance was debited for the entire amount. -Book Print Note: Enter debits before credits. Terences Date General Journal Debit Credit Jan 04, 2021 Record entry Clear entry View general journal Journal entry worksheet The cost of the merchandise was $7,000. Note: Enter debits before credits. Date General Journal Debit Credit Jan 10, 2021 Record entry Clear entry View general journal Journal entry worksheet Borrowed $30,000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months. Note: Enter debits before credits. General Journal Debit Credit Date Jan 15, 2021 Record entry Clear entry View general journal View general journal Journal entry worksheet ..... Paid employees $6,000 salaries for the first half of the month. Note: Enter debits before credits. General Journal Debit Credit Date Jan 20, 2021 Record entry Clear entry View general journal Journal entry worksheet The cost of the merchandise was $6,000. Note: Enter debits before credits. Date General Journal Debit Credit Jan 22, 2021 Record entry Clear entry View general journal Journal entry worksheet Paid $15,000 to suppliers for the merchandise purchased on January 2. Note: Enter debits before credits General Journal Debit Credit Date Jan 24 2021 Record entry Clear enly View general journal Journal entry worksheet ... Collected $6,000 on account from customers. Note: Enter debits before credits. Date General Journal Debit Credit Jan 26, 2021 Record entry Clear entry View general journal mework 6 Saved ournal entry worksheet 13 .... Paid $1,000 to the local utility company for January gas and electricity. Note: Enter debits before credits. Debit Credit Date General Journal Jan 28, 2021 Record entry Clear entry View general Journal Journal entry worksheet Prepare an unadjusted trial balance as of January 30, 2021. HALOGEN LAMINATED PRODUCTS COMPANY Unadjusted Trial Balance January 30, 2021 Account Title Debits Credits es Totals $ 0 $
