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Create a Journal entry for all of these, then create a T-account. Then the financial statement.

PROJECT \#1 - PART A Jan The following transactions occurred during January of the current year. 1 Paid 12 months insurance starting January 1,$5,100. 2 Paid 9 months rent starting January 1,$3,600. 3MBC borrows $36,000 cash from National State Bank at 6% annual interest; this note is payable in two years. 4 A new oven is purchased using cash. The total cost was $24,000. 5 Stockholders contribute $7,000 of additional cash to MBC for its common stock. 6 Additional supplies costing $1,100 are purchased on account and received. 7 Accounts receivable of $600 is collected from December sales. 8 Accounts payable of $200 is paid from December purchases. 9 Performed services for customers on account, sending invoices totaling $10,900. 10 Performed services for customers totaling $7,500 who paid in cash. 16 Salaries totaling $1,150 were recorded and paid for the first half of the month. 20MBC received $3,800 from a customer for an advance order for services to be provided later in Jan \& Feb. 25 Accounts receivable of $4,800 is collected from customer on account from January 9 . record the adjusting journal entries for January 31 in the journal. Jan PROJECT \#1 - PART B 31 A $1,400 invoice/bill arrived for utility services used in January. Payment is due Feb 15. 31 Supplies on hand on Jan 31 are counted and determined to have cost $270. 31 As of Jan 31, MBC had completed 55% of the services for the customer who paid in advance on Jan 20. 31 As of Jan 31, MBC owed one month of interest on the loan from Jan 3. 31 The oven purchased on Jan 4 has been in use for one month. The life is 8 years and method is based on life. 31 Salaries were earned by employees for the second half of the month (Jan 16-31) and will be paid Feb 3. 31 Prepaid rent and insurance were both used for January