Record the transactions for January. January is the first full month of operations.

January Transactions for Francine's Fast Deliveries, Inc. (FED. Ch. Date 2 1 Owners invest $16.000 of additional cash in the business, Coch? 2 2a Supplies are purchased for $1.000 on account 2. 2b Insurance is paid for 12 months beginning January 1: $5,700 (Record as an asset) 2 2e Rent is paid for 3 months beginning in January: $4,200 (Record as an asset) 2 2d Two employees are hired. Each employee will be paid $2.200 per month 2 3 FFD borrows $30,000 from 1" State Bank at 6% annual interest. 2 6 A delivery van is purchased for cash. Including tax the total cost was $24,000. It will be used for 4 years and will be depreciated monthly using straight-line with no salvage value. A full month of depreciation will be charged in January 2 7 $600 of the receivables from December's sales are collected. 8 $400 of the accounts payable from December are paid 3 9 Performed services for customers on account. Mailed invoices totaling $10,400. 3 10 Services are performed for cash customers: $7,600 3 16 Wages for the first half of the month are paid on January 16: S2.200. 3 20 The company receives $3,500 from a customer for an advance order for services to be provided in January and February 3 25 Collections from customers on account (see January 9 transaction): S4,500 3 30a The last 2 weeks wages earned by employees are $1,100 per employee and will be paid on February 3. 3 30b A $1,200 utility bill for January arrived. It is due on February 15. 4 Additional Information for adjusting entries at January 31: a. Supplies on hand on January 31 total $250. b. The company completed 60% of the deliveries for the customer who paid in advance on January 20 c. Interest is accrued for the bank loan. (Assume a full month for the 1" State Bank loan.) d. Record January Depreciation e. Adjust the prepaid asset (Rent and Insurance) accounts as needed 1. Journal entries for January. # Account Name Debit Credit 3