Question: Prepare the January 2020 journal entries.

The trial balance for Shoe Doggs as on December 31, 2019 is as follows: Credit Shoe Doggs Post-Closing trial balance December 31, 2019 Account Debit Cash $1,180 Accounts receivable 875 Supplies 350 Prepaid insurance 1,210 Equipment 1,200 Accumulated Depreciation- equipment Accounts Payable Salaries and Wages Payable Unearned Service Revenue Interest Payable Notes Payable Common Stock Retained Earnings $4,815 $40 75 56 300 15 2,000 800 1,529 $4,815 In the end, Liam decides to use the perpetual inventory system. The following transactions happen during the month of January Jan. 4 Bought five pairs on account from Kzinski Supply Co. for $1,350, FOB shipping point, terms n/30. 7 Returned one pair of shoes to Kzinski because it was damaged during shipping. Kzinski issues Shoe Doggs credit for the cost of the shoes. 8 Collected $375 of the accounts receivable from December 2019. 12 Three pairs are sold on account for $900, FOB destination, terms n/30. 14 Bought four more pairs on account from Kzinski Supply Co. for $1,120, FOB shipping point, terms n/30. 17 Liam is concerned that there is not enough cash available to pay for all of the Shoes purchased. He invests an additional $1,000 cash in Shoe Doggs in exchange for common stock. 20 Sold two Pairs for $650 cash. 28 Collected the amounts due from customers for the January 12 transaction. 31 Paid Kzinski all amounts due. 12. Prepare the January 2020 journal entries