Shared by 2022/02/27 17-08-240.7KB 3 G Coco Corporation is an IT company owned and operated by Coco Young. The following selected transactions were taken place during March: Section 1 1. On March 19, Coco invested $30,000 cash into the company. 2. On March 2nd, the company bought an equipment of $49,000 on account. It's estimated to operate for 7 months and will be depreciated on a monthly basis. 3. On March 4", the company received 6-month rent worth $60,000 from the tenant 4. On March 8th, a health insurance was bought spending $80,000 in cash. The insurance will cover the coming 10 months. 5. March 9h, the company purchased supplies of $40,000 on account. 6. On May 11th, the company billed customers for services on account, $9,450. 7. On May 16, the company paid $82,000 cash to creditors. | 8. On May 22, the company received $12,150 cash from customers. 9. On May 28th, Coco withdraw $20,000 cash for personal use, 10. On May 30, the company received water and electricity bill of $150 which is to be paid next month. 1. Journalize all the above transactions (20 points) Section 2 On May 31, the following adjustments should be made: 1. Supplies of only $10,000 are left. 2. One-month insurance expires. 3. One-month rent expires. 4. The machine should be depreciated for one month. 5. Employees' salaries are $30,000 each month. The first month's will be paid next month. 2 60F Partly sunny 4) ENG 3:07 PM 2/28/2022