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Part A: Journalize the following transactions for January for Psych, Inc. Shawn and Gus opened Psych, Inc., a pyschic detective agency, on January 1,

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Part A: Journalize the following transactions for January for Psych, Inc. Shawn and Gus opened Psych, Inc., a pyschic detective agency, on January 1, 2021. They are the only owners of the corporation. During January, Psych, Inc. completed the following transactions. 1-Jan Cashed a check for $35,000 for a business loan from Shawn's dad. His dad will charge Psych, Inc. 6% APR, and the loan will be due in 2 years. The first payment will be due on February 1, 2021. 1-Jan Shawn invested $1,000 in exchange for common stock in Pysch, Inc. 1-Jan Gus invested $10,000 in exchange for common stock in Pysch, Inc. 1-Jan Prepaid $12,000 for 1 year of rent for office space. 1-Jan Bought an office computer for $1,500 cash. 1-Jan Hired a secretary who will be paid $800 a month. She will begin working on 1/4/2021. (no journal entry required) 3-Jan Bought office supplies for $750 on account. 4-Jan Performed services and billed the Santa Barbara Police Department for services performed for $2,000. 11-Jan Received payment in full for services billed to the Santa Barbara Police Department on Jan 4. 14-Jan Performed services and billed a private client, Swanson, for $1,000. 15-Jan Incurred $1,000 for 2 weeks of wages expense for the secretary. These wages will be paid on Jan 20 17-Jan Paid for the office supplies purchased on Jan 3. + B 9 0 21-Jan Paid wages incurred on Jan 15. 1 25-Jan Performed services and billed the Santa Barbara Police Department for $3,000. 2 29-Jan Received payment in full from private client Swanson billed on Jan 14. 3 30-Jan Paid phone bill with $75 cash. 4 30-Jan Paid utilities with $68 cash. 45 30-Jan Incurred 1 month of interest on the loan from Shawn's dad totalling $175. 36

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