Shelton Engineering completed the following transactions in the month of October. Prepare journal entries to record each transaction in the journal on the following page.

a. October 1 -- Shana Shelton, the owner, invested $105,000 cash, office equipment with a value of $6,000, and $45,000 drafting equipment to launch the company in exchange for common stock.

b. October 2 -- The Company purchased land worth $54,000 for an office by paying $5,400 cash and signing a long-term note payable for the remainder.

c. October 2 -- The Company paid $6,000 cash for the premium on an 18-month insurance policy.

d. October 10 -- The Company completed $12,000 of engineering services for a client. This amount is to be received in 30 days.

e. October 15 -- The Company received a bill for rent of equipment that was used on a recently completed job. The $1,200 rent cost must be paid within 30 days.

f. October 16 -- The Company received a $5,000 check from a customer as down payment for a job to begin the following month.

g. October 31 Paid wages of $ 1,000 to employees.

h. October 31 The Company declared and paid a $500 cash dividend.