Journal (12 marks) Prepare the journal entries to record the following transactions for Selvyn's Car Rental in January 2019. Narrations are required. January 6 Selvyn contributed $500,000 cash to the business, 13 Received $40,000 cash for services to be provided next month. 19 Earned fees $60,000 from customers. Of this, 75% of the fees were received in cash and the remaining balance will be received in next month. 24 Selvyn paid the annual insurance fee of $1,200 for the next 12 months 31 Selvyn purchased Cars for $850,000. He paid $350,000 cash and the remaining balance is financed through a bank loan. i B 1 Date Accounts Debit Credit