Sparkling Clean, Dry Cleaners Inc began operations on January 1, 2020. In its first year, the following transactions occurred: A 1. Issued common shares for $132,000 cash. 2. Purchased dry cleaning equipment for $83,000 cash. 3. Purchased cleaning supplies, on account for $10.200, 4. Used $8,400 of the supplies in cleaning operations. 5. Collected $133,000 from customers for dry cleaning services provided. 6. Borrowed $15,000 from the bank on July 1, 2020, at an interest rate of 8% per year (Use Bank Loan Payable) 7. Paid wages of $51,200 to employees. In addition to this, $1,000 of wages were owed to employees at the end of the year. 8. Depreciated the equipment by $3,000 for the year. 9. Paid $24,000 for utilities (telephone, electricity and water) 10. On December 31, paid interest on the bank loan described in transaction 6 Prepare journal entries to record each of the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) No. Account Titles and explanation Debit Credit 1. 2 3 5. 6. 7. 8. Post the journal entries to the following Taccounts. (Post entries in the order of journal entries presented in the previous question. If beginning balance is zero, enter in the column for the normal balance for that account.) A Cash Supplies Supplies Equipment Accumulated Depreciation, Equipment Accounts Payable Bank Loan Payable 1 Wages Payable Common Shares Service Revenue Depreciation Expense Interest Expense Supplies Expense Utilities Expense Wages Expense