Prepare journal entries.

The following transactions occurred during the first twelve months of operations:
January 1st	Common stock is issued in exchange for cash in the amount of ..								295,000
February 8th	The company purchases and pays for 160 units of gourmet dog food at a price of $25 per unit ..								4,000
March 1st	The company pays cash for a one-year insurance policy in the amount of .....								9,300
March 31st	Rent on a retail space for 12 months is paid in the amount of ...								12,480
April 1st	Grooming and boarding equipment with a useful life of 2 years is purchased for cash in the amount of								18,000
April 10th	Grooming supplies purchased on account in the amount of ..								1,450
May 15th	The company purchases and pays for another 370 units of gourmet dog food at a price of $29 per unit ..								10,730
May 30th	Grooming services are performed on account in the amount of ..								13,625
June 1st	The company pays for advertisements to be run for the next 12 months in the amount of .								864
June 30th	The company issues a 5-year bond with a face value of $100,000 and a stated annual rate of 6%.
	Interest is due on June 30th each year. The market rate is 8% on the date of issuance .								100,000
July 25th	Dog-walking services are performed on account in the amount of .....								14,225
July 31st	95 units of gourmet dog food are sold for $70 per unit with terms 2/10, n/30. The sale is recorded using
	the gross method in the amount of (see note c for cost flow assumptions) .								6,650
August 2nd	Boarding services are provided on account in the amount of .								6,280
August 6th	The company receives full payment from the customer for the July 31st sale								6,517
September 15th	Pet sitting services are performed on account in the amount of .....								6,245
September 29th	Customer payments are received for services previously provided in the amount of ..								1,250
October 13th	100 units of gourmet dog food are sold for $73 per unit with terms 2/10, n/30. The sale is recorded using
	the gross method in the amount of .								7,300
October 29th	The company receives payment for half of the October 13th sale								3,650
November 1st	Equipment originally purchased on April 1st for $2400 is sold for $2000 cash
November 15th	A bookkeeper is hired to help the company with daily accounting taxes and annual tax preparation
December 15th	The bookkeeper is paid $3,500 for the previous month's services								3,500

Additional information:
Grooming supplies on hand at the end of the month are as follows: .							870
The year-end balance reported at the end of the year for the Allowance for Doubtful Accounts
is estimated as 4% of outstanding receivables at the end of the year
The Company uses a perpetual inventory system and accounts for costs using the First-In-First-Out cost
flow assumption. On December 31st, a count of ending inventory reveals that there are 335 bags of dog
food on hand.
All revenue is recorded in the "Sales Revenue" account and reported net of cash discounts on the income statement.
The effective interest method is used to amortize bond premiums and discounts
Adjustments are made at the end of the year for prepaid insurance, rent, advertising, depreciation, and interest expense.
The bookkeeper is paid a salary of $3,500 on the 15th of every month.
The company declared dividends of $650 for the year
Assume selling expenses include advertising and supplies expense. All other expenses, other than depreciation
and interest expense, are considered general & administrative.