Monthly Account Balances (in thousands of dollars) Dec 31,2016

Accounts payable $ 7,750

Accounts receivable 6,440

Accrued wages payable 4,000

Cash 20,000

Common stock 14,600

Dividends payable 1,500

Interest payable 1,100

Interest receivable 50

Investments 2,660

Land 5,000

Long-term notes payable(due June 15, 2018) 4,000

Prepaid expenses 1,800

Other noncurrent assets 800

Plant and equipment 15,200

Retained earnings 10,400

Short-term notes payable 11,000

Supplies 2,000

Complete a journal entry for each of the following transactions:

Arcelo, Inc. entered into the following transactions during January 2017:

1. Paid wages owed at December 31, 2016. (accrued wages payable 2016 of $4,000)

2. Collected $5,500 on outstanding accounts receivable.

3. Paid accounts payable of $7,000.

4. Issued 1000 shares of common stock for $8each.

5. Paid $11,000 on a short-term note payable including $750of accrued interest.

6. Purchased supplies worth $1,850 on account.

7. Signed a contract with a new cleaning company. Agreed to pay $1,500 a month for cleaningthe shop each night.

8. Redeemed a six-month $2,660certificate of depositheld as an investment. Proceeds including accrued interest totaled $2,710.

9. Purchased shop equipment in exchange for $8,000 in cash and a note payable of $15,000 due 8/31/18.