Mary Jones starts a new proprietorship called the Thirsty Turtle on April 5, 2015. The operation does not serve liquor; it uses a periodic inventory system for food items. Inventory and expense accounts are set up for Operating Supplies and Office Supplies (four separate accounts). Purchases of storeroom supplies are recorded to an inventory account; direct purchases are recorded to an expense account.

Journalize the following transactions on a two-column journal.

2015

April 5: Mary invested $75,000 into the business. This amount was used to open a business checking account.

April 5: Purchased the following property:

Land $45,000

Building 165,000

$210,000

Issued check number 101 for $40,000 to State Bank, and financed the balance by a mortgage with State Bank.

April 5: Issued check number 102 for $5,000 to National Supply and executed a $35,000 promissory note payable to National Supply to purchase the following items:

Operating Supplies $1,200

Office Supplies 800

Furniture 18,000

Equipment 14,000

China, Glassware, Silver 6,000

April 5: Issued check number 103 for $1,400 to Fidelity Insurance for a one-year fire insurance policy.

April 5: Issued check number 104 for $200 to City Utilities as a deposit for utility services.

April 5: Purchased $2,500 of food provisions on open account from Statewide Purveyors.

April 8: Issued check number 105 for $500 to Judy Barnes for personal use.