MAKE JOURNAL ENTRIES FOR THE FOLLOWING

$1/3/2020$ Paid interest payable plus $$3,000$ toward long term debt

$1/2/2020$ Paid salaries payable

$1/3/2020$ Purchased inventory $(500$ units at $$46)$ on credit

$1/4/2020$ Paid shipping on inventory of $$300$

$1/6/2020$ Purchased supplies on credit for $$850$

$1/9/2020$ Received $$3,000$ from customers for products to deliver in March

$1/10/2020$ Sold $600$ units on credit with a sales price of $$105($assume perpetual LIFO$)$

$1/15/2020$ Purchased inventory on credit $(700$ units at $$47)$

$1/20/2020$ Paid $$39,200$ on accounts payable

$1/21/2020$ Collected $$139,520$ in cash from customers in payment for earlier sales

$1/22/2020$ Wrote off accounts receivable for $$920$

$1/25/2020$ Sold $200$ units on credit with a sales price of $$105($still perpetual LIFO$)$

$1/26/2020$ Paid wages to employees for work done in January $$31,000$

$1/26/2020$ Received utility bill for $$2,400$ for utilities used in January that will be paid in February

$1/31/2020$ Delivered $100$ units of product to customers that they paid $$10,000$ for in $2019($unearned revenue$)$

$1/31/2020$ Counted supplies and found $$1,040$ remaining

$1/31/2020$ Employees worked and earned $$4,700$ in January that will not be paid until February

$1/31/2020$ Interest at $8\%$ per year on the long term debt $($new balance$)$ has not been paid

$1/31/2020$ The prepaid insurance will last $4$ months into $2020$ before a new policy will be required

$1/31/2020$ The allowance for bad debts is estimated at $4\%$ of total accounts receivable

$1/31/2020$ A count of inventory showed that $50$ units were damaged such that they are worthless and will be thrown away