Question $1$ of $1$

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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 $15$th$.$

$25$ 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.

:$\text{'}$

$31$ Paid the Canada Revenue Agency $$1,500$ as an income tax instalment.