Halogen Laminated Products Company began business on January 1, 2024. During January, the following trans- actions occurred: Jan. 1 2 4 10 15 20 22 24 26 28 30 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 $2,400 for a one-year insurance policy. Prepaid insurance was debited for the entire amount. Sold inventory on account for $12.000. The cost of the inventory was $7,000 Borrowed $30,000 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 for the first half of the month. Sold inventory for $10,000 cash. The cost