record each of the listed transactions above in the 'general journal' tab (these are shown as items 1-16). review the 'general ledger' and the 'trial balance' tabs to see the effect of the transactions on the account balances.

Tar Heels Unilmited began business on January 1. 2024. During January, the following transactions occurred: January 1 Issue comen stock in exchange for $100,009 cash. January 2 Purchase. Inventory on account for $35,000. January 4 Pay an Insurance company $2,400 for a one year insurance policy. 3 anuary 10 Sell inventory on account for $12,000. The cost of the inventory was $7, 600 . January 15 Borrow 530,000 fron a local bank and signed a note. Principal and interest at 10% is to be repaid in six nonthis. January 20 Pay enployes 16 , 00e salaries for the first half of the eonth. January 22 Sel1 Inventory for $10,090 cash. The cost of the inventory was 86,000 , Jamuary 24 Fay $15, 900 to suppliers for the inventory purchased on January 7. January 26 Collect $6,000 on account from customers. January 28 pay $1,000 to the local utility congany for January gas and electricity. January so Pay $4,000 rent for the building, of this amount, $2,000 is for January rent, and $2, e00 is for Febriary rent. Prepaid Rent and Rent Expense are debited for their Jppropriate anounts. The following information is avallable on January 31.2024 : 1. One month of insurance has expired (retated to. January 4 purchase) 2 One half month of interest is owed (related to January 15 borrowirn). 3. Salaries owed to employees at the end of January are $6,000. Tar Heels Unlimited began business on January 1, 2024. During January, the following transactions occurred: January 1 Issue comson stock in exchange for $100,000cash. January I Issue cotmon stock in exchange for $100,000. lanuary 4 Pay an insurance coopany $2,400 for a one year insurance policy. Januery 10 Sel1 inventory on account for $12,000. The cost of the imventory was $7,000. January 20 May eoploynes 56,000 selaries for the first half of the month. January 22 Sel1 inventory for $10,000 cash. The cost of the inventory mas 36,006 . January 26 collect 46 , eve ue account fron custoeers. January 2n Pay 31 , 000 to the local utility coepany for January gas and electricity The foliowing information is avaliable on January 31,2024 . 1. One month of insurance has explred (related to January 4 purchase) 2. One half month of intetest is owed (related to January 15 borrowing). Piepare general journal entries to record each transoction