Record Transactions for the month of January. Write journal entries for the information provided. January Transactions for Francines Fast Deliveries, Inc. Jan.1 - Owners invest $16,000 of additional cash in the business. Jan. 2 - a)2Supplies are purchased for $1,000 b) Insurance is paid for 12 months beginning January 1: $5,700 (Record as an asset) c) Rent is paid for 3 months beginning in January: $4,500 (Record as an asset) d) Two employees are hired. Each employee will be paid $2,400 per month Jan. 3 - FFD borrows $30,000 from 1st State Bank at 10% annual interest. Jan. 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. Jan. 7 - $600 of the receivables from Decembers sales are collected. Jan. 8 - $400 of the accounts payable from December are paid. Jan. 9 - Performed services for customers on account. Mailed invoices totaling $10,400. Jan. 10 - Services are performed for cash customers: $7,600. Jan. 16 - Wages for the first half of the month are paid on January 16: $2,400. Jan. 20 - The company receives $3,500 from a customer for an advance order for services to be provided in January and February. Jan. 25 -Collections from customers on account (see January 9 transaction): $4,500 Jan. 30 - a)The last 2 weeks wages earned by employees are $1,200 per employee and will be paid on February 3. b)A $1,200 utility bill for January arrived. It is due on February 15. Use this additional Information for adjusting entries at January 31:(separate this from the original journal entries) a) Supplies on hand on January 31 total $250. b) The company completed 40% 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 1st State Bank loan.) d) Adjust the prepaid asset accounts as needed e) Record January Depreciation