Post Journal Entry to accounts (balance sheet accounts and income statement accounts), for the following transactions:

January Transactions:

a) Issued $150,000 of common stock

b) Borrowed $65,000 from the Southern Utah Bank at 10% interest (payable annually) due in 5 years

c) Purchased equipment for $33,000 cash expected to last 10 years with a salvage value of $5,000

d) Purchased supplies for $5,000 cash expected to last 1 year

e) Paid rent for the next 6 months in advance for $44,000

f) Rented office equipment for the year for $15,000 (due at end of the year)

g) Purchased merchandise from Joe's Supply for $53,000 on account

h) Hired an employee for $45,000/year

i) Hired an employee for $9.00/hour

j) Sold merchandise costing $35,000 for $45,000. $20,000 was cash sales

k) Pre-sold merchandise costing $4,000 for $7,500 that will be shipped next month

l) Made payment of $22,000 to Joe's Supply

m) Collected $8,000 of receivables

n) Used $450 of supplies

Additional Info:

Hourly employee worked 40 hours/week for 4 weeks

e.g.

a)

Cash			Common Stock
150,000				150,000