Journal entries

Date Amount Transaction 01/01 0.00 Started new business. All Accounts are nil. )1/05 2,823,884.00 Bought inventory )1/08 8,471,652.00 Sold services 01/10 3,388,660.80 Sold all inventory 01/24 67,773.22 2% of Sales were returned )2/01 705,971.00 Paid Rent for the current month 2/05 3,388,660.80 Bought inventory 2/08 8,471,652.00 Sold services 2/10 4,744,125.12 Sold all inventory 2/15 1,694,330.40 Paid employees 2/24 94,882.50 2% of Sales were returned 02/27 1,245,671.71 Allowance for Doubtful Accounts is estimated to be 5% of accounts receivable balance