Record journal entries for the transactions dated January $1-25$ of the current year on the journal entry form.

PROJECT #$1-$ PART A

Jan The following transactions occurred during January of the current year.

$1$ Paid $12$ months insurance starting January $1,$$$6,600$

$2$ Paid $9$ months rent starting January $1,$$$3,600.$

$3$ MBC borrows $$36,000$ cash from National State Bank at $6\%$ annual interest; this note is payable in $18$ months.

$4$ A new oven is purchased using cash. The total cost was $$24,000.$

$5$ Stockholders contribute $$7,000$ of additional cash to MBC for its common stock.

$6$ Additional supplies costing $$1,450$ are purchased on account and received.

$7$ Accounts receivable of $$600$ is collected from December sales.

$8$ Accounts payable of $$200$ is paid from December purchases.

$9$ Performed services for customers on account, sending invoices totaling $$10,900.$

$10$ Performed services for customers totaling $$13,200$ who paid in cash.

$16$ Salaries were recorded and paid for the first half of the month $($Jan $1-15).$

$20$ MBC received $$4,850$ from a customer for an advance order for services to be provided later in Jan & Feb.

$25$ Accounts receivable of $$4,800$ is collected from customer on account from January $9.$