Required information (The following information applies to the questions displayed below.] A company plans to own and operate a storage rental facility. For the first month of operations, the company has the following transactions. 1. January 1 Issue 10,000 shares of common stock in exchange for $34,000 in cash. 2. January 5 Purchase land for $20,000. A note payable is signed for the full amount. 3. January 9 Purchase storage container equipment for $8,200 cash. 4. January 12 Hire three employees for $2,200 per month. 5. January 18 Receive cash of $12,200 in rental fees for the current month. January 23 Purchase office supplies for $2,200 on account. 7. January 31 Pay employees $6,600 for the first month's salaries. 6. No Transaction General Journal Debit Credit 1 January 01 34,000 Cash Common Stock 34,000 2 January 05 20,000 Land Notes Payable 20,000 3 January 09 8,200 Equipment Cash 8,200 4 January 12 No Journal Entry Required 5 January 18 Cash 12,200 Service Revenue 12,200 6 January 23 2,200 Supplies Accounts Payable 2,200 7 January 31 6,600 Salaries Expense Cash 6,600 2. Post each transaction to T-accounts and calculate the ending balance for each account. For each posting, indicate the corresponding transaction number and the appropriate transaction amount. Since this is the first month of operations, all T-accounts have a beginning balance of zero. Cash Supplies Beg. bal. Beg. bal. 8,200 (3) End. bal. End. bal. Land Equipment Beg. bal. Beg. bal. End. bal. End. bal. Common Stock Accounts Payable Beg. bal. Beg. bal. End. bal. End. bal. Notes Payable Service Revenue Beg. bal. Beg. bal. End. bal. End. bal. Salaries Expense Beg. bal. End. bal