Need help with accounting

jan 1 EIhereinafter "E" starts a new business: start date

Jan 1 (2) E invests $5000 cash, $200 office equipment, and $300 intellectural property in ES

entry cash a/c dr 5000

office equipment a/c dr 200

intelectual property a/c dr 300

to capital account cr 5700

Jan 1 (3) ES purchases 2 month worth of insurace for $500 in cash from SureStuff, Inc.

• Entry. prepaid insirance a/c dr 250
• insirance account dr 250
• Cash A/C cr 500
• too two months insurance now accounted for

Jan 1 (4) Es draws a not paybal from Small Bank in the amont of $10,00

• Entry. Cash 10,000
• N/P. 10,000

Jan 1(5) ES signed a contract wiht his first customer, who will pay him $5000 on the 1st of next month for 2 months IF he delivers 1000 pairs of scissors on or before the end of each month.

No entry

Jan 1(6) ES purchases from Office eport $100 office supplies on credit, terms 2/10 n30 FOB Destination

Entry Office Depot

• Office Supply 100
• A/P 100

Jan 2 (7) ES purchases from Metals. INc, 300 paris of scissors (inventory) at $1 each terms 2/10 n30 FOB Destination

• Entry Metals Inc.
• M/I 300
• Cash 300

Jan 2 (8)