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Question 1 of 1 - 1 0 0 Ivanhoe Advisors Limited was organized on January 1 , 2 0 2 4 . The company had

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Question 1 of 1
-100
Ivanhoe Advisors Limited was organized on January 1,2024.
The company had the following transactions in the month of January:
Jan. 2 Issued 1,100 common shares for $61 each.
4 Finalized a lease for office space and paid the first month's rent of $3,200.
5 Purchased $37,000 of equipment for $10,000 cash and financed the remainder with a long-term bank loan.
8 Paid for an advertisement in a local paper, $490.
10 Purchased supplies on account, $900.
11 Paid for several advertising spots on the local radio station, $3,100.
12 Paid employees $7,400 for the first two weeks of work.
15 Summarized and recorded the billings to clients for the first two weeks of January. Billings totalled $14,800. These amounts are due by the 12 th of the next month.
17 Paid $1,100 for office expenses.
19 Paid annual insurance policy with coverage up to December 31,2024, for $6,500.
24 Received $10,200 from clients in partial settlement of accounts billed onthe 15th.
25 Declared and paid $510 of dividends to shareholders.
26 Paid employees $7,400 for the previous two weeks of work.
29 Summarized and recorded the billings to clients for the prior two weeks. Billings totalled $19,100. These amounts are due by the 26 th of the next month.
30 Made a payment to the bank of $200 for interest on the bank loan and $630 to pay on the owing for the bank loan.
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31 Paid the Canada Revenue Agency $1,500 as an income tax instalment.
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