* Prepare the appropriate journal entries associated with the below transactions.

Transactions during January 2020:

1. On January 1, 2020, the owner of ACC invested $10,000.00 cash in the company.

2. An invoice was received from ACC's insurance provider on January 15, 2020, for casualty insurance coverage in the amount of $2,400.00 for the period January 1, through December 31, 2020.

3. Employees earned salary and wages in January of $6,500.00 which was paid on February 1, 2020.

4. The insurance premium described in transaction 2 was paid on January 31, 2020.

5. Office expense for the month of January paid in cash was $1,500.00 6. Record insurance expenses for the month of January. 7. January's service revenue for the Company is $21,000.00. All revenues are recorded as "on account."