Record entries from the transaction and event list provided below in proper journal entry format NOTE You are recording entries for the fiscal year 2019 (Jan 1 Dec 31) and make adjusting entries at year end This list must be chronologically organized Make sure that I can easily identify the journal entry or adjusting journal entry with the related transaction event Show your work if the entry requires you to make a calculation (i e depreciation, interest expense, etc ) January On January 1st, the company issued 280,000 additional shares (par of $ 25) to raise capital for the New Year Assume no change in price from Dec 31, 2018 Purchased a truck for $140,000 cash on the 1st of January The truck will be depreciated over an 8 year period You decide to use the 200 declining balance depreciation method because it is determined that the truck will be more productive when it is newer The truck has an estimated salvage value of $8,000 Adjusting Entry Required On January 1st, a 5 year, $130,000 long term note payable was taken from a local bank On January 5th, you receive payment from interest earned and accrued in 2018 On January 22nd you purchased 8,500 additional units of inventory at a cost of $63 00 per unit You paid 45 in cash and purchased the remainder on account On January 25th you pay $112,000 cash toward your accounts payable Purchased new office equipment for $230,000 with cash from California Furniture on January 1, 2019 The new furniture will be depreciated over a ten year period on a straight line basis The cabinet has an estimated salvage value of $15,000 Adjusting Entry Required February Paid cash for $160,000 worth of radio advertising on February 1st This gives you radio advertising until January 31st, 2020 Adjusting Entry Required February 13th you collect $365,000 of account payments from customers

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Record entries from the transaction and event list provided below in proper journal entry format. NOTE: You are recording entries for the fiscal year 2019 (Jan 1 Dec 31) and make adjusting entries at year-end. This list must be chronologically organized. Make sure that I can easily identify the journal entry or adjusting journal entry with the related transaction/event. Show your work if the entry requires you to make a calculation (i.e. depreciation, interest expense, etc.).

January

On January 1st, the company issued 280,000 additional shares (par of $.25) to raise capital for the New Year. Assume no change in price from Dec 31, 2018.
Purchased a truck for $140,000 cash on the 1st of January. The truck will be depreciated over an 8 year period. You decide to use the 200% declining-balance depreciation method because it is determined that the truck will be more productive when it is newer. The truck has an estimated salvage value of $8,000.

[Adjusting Entry Required]
On January 1st, a 5 year, $130,000 long-term note payable was taken from a local bank.
On January 5th, you receive payment from interest earned and accrued in 2018.
On January 22nd you purchased 8,500 additional units of inventory at a cost of $63.00 per unit. You paid 45% in cash and purchased the remainder on account.
On January 25th you pay $112,000 cash toward your accounts payable.
Purchased new office equipment for $230,000 with cash from California Furniture on January 1, 2019. The new furniture will be depreciated over a ten-year period on a straight- line basis. The cabinet has an estimated salvage value of $15,000. [Adjusting Entry Required]

February

Paid cash for $160,000 worth of radio advertising on February 1st. This gives you radio advertising until January 31st, 2020. [Adjusting Entry Required]
February 13th you collect $365,000 of account payments from customers.