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Isabel Happy began a company providing custom sewing and sales of sewing equipment on March 1, 2015 called Isabel's Sew and Sales. Isabel has decided

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Isabel Happy began a company providing custom sewing and sales of sewing equipment on March 1, 2015 called Isabel's Sew and Sales. Isabel has decided to record all prepayments to assets, and all unearned revenues to liabilities. The company will use a periodic inventory system. Isabel's Sew and Sales completed the follow transactions for March 2015. March 1 Isabel invested $15,000 cash along with $5,000 of various sewing machines into hers new business. The equipment is estimated to have a useful life of 5 years and have no residual value after that time. March 1 Signed a lease for 1 year rental of a unit in a strip mall. Landlord required payment of $2,000, which covered the first month rent, March 2015 and last months, February 2016. March 3 Purchased $3,000 of merchandise inventory from Fabricland; terms 1/10, n20. March 5 Received March 3 purchase and paid cash of $200 for shipping March 7 Bought $250 of sewing supplies on account. March 9 Cheque # 100 was issued to establish a Petty Cash fund for $100 March 12 Sold merchandise to Martha Stewart that cost $800 for $1,000, terms n30. March 19 Paid for merchandise purchased from Fabricland on March 3. March 22 Received $1,600 cash from AB Dry Cleaners for 4 months of sewing services, contract to start immediately. March 25 Bought new sewing machines and sergers for $8,000 paying cash of $1,800 and signing a 1 year note at 6% for the balance. March 31 Isabel bought new business clothes with cash from the business, amount $1,000. March 31 Ordering advertising in the local Penny Saver Newspaper. Required: Prepare general journal entries to record the transactions. Explanations are not required

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