On January 1, Year 1, the general ledger of a company includes the following account balances:

Accounts	Debit				Credit
Cash	$	24,300
Accounts Receivable		5,700
Supplies		3,600
Land		55,000
Accounts Payable					$	3,700
Common Stock						70,000
Retained Earnings						14,900
Totals	$	88,600			$	88,600

During Year 1, the following transactions occur:

January		2		Purchase rental space for one year in advance, $7,500 ($625/month).
January		9		Purchase additional supplies on account, $4,000.
January		13		Provide services to customers on account, $26,000.
January		17		Receive cash in advance from customers for services to be provided in the future, $4,200.
January		20		Pay cash for salaries, $12,000.
January		22		Receive cash on accounts receivable, $24,600.
January		29		Pay cash on accounts payable, $4,500.

1. Record each of the transactions listed above. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

View transaction list Journal entry worksheet Record the purchase of rental space for one year in advance, $7,500 ($625/month). Note: Enter debits before credits. Date General Journal Debit Credit January 02 Record entry Clear entry Vlew general Journal