January 2: Filed articles of incorporation with the state and issued 100,000 shares of capital stock. Cash of $100,000 is received from the new owners for the shares.

January 3: Purchased a warehouse and land for $79,000 in cash. An appraiser values the land at $20,000 and the warehouse at $59,000. If an amount box does not require an entry, leave it blank.

January 4: Signed a three-year promissory note at Third State Bank in the amount of $49,000.

January 6: Purchased five new delivery trucks for a total of $45,000 in cash

January 31: Performed services on account that amounted to $15,900 during the month.

January 31: Cash amounting to $7,490 was received from customers on account during the month.

January 31: Established an open account at a local service station at the beginning of the month. Purchases of gas and oil during January amounted to $3,230. Skyhawk has until the 10th of the following month to pay its bill.

2. Prepare a trial balance at January 31. If an amount box does not require an entry, leave it blank. Skyhawk Package Delivery Trial Balance January 31 Debit Credit Cash Accounts receivable Accounts payable Service expense Gas and oil expense Accounts payable 7,490X 8,410 3,230X 15,900 | X 3,230X Accounts receivable Cash x Totals 19,130 X 19,130 X