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Stephanie started a new business on January 2, 2016. The business operates under the name Stephanie Inc. The following transactions took place over the next

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Stephanie started a new business on January 2, 2016. The business operates under the name Stephanie Inc. The following transactions took place over the next month: January 2 issued common shares (share capital) of the company to Stephanie for her payment of $ 20, 000 cash. Bought a delivery truck with a total cost of $ 15,000 paying for it in with a cash down payment of $ 3,000 at the end of the three year note payable for the balance (the note's interest rate is 12% per annum). The trunk is estimated to have a useful life of three years and will be worth $ 3,000 at the end of the three years. Purchased office supplies at a total cost of $ 600, paying $ 100 in cash and agreeing to pay the balance on January 31. paid the insurance company $ 2,400 for office insurance for the six months of January to June 2016. paid the landlord $ 1,000 for office rent for the month of January. January 31 renegotiated the rent for the month of January down to $ 500 with the balance already paid to be applied to February's rent. determined that there was $200 of office supplies on hand at month end. billed a customer for $1,000 in services with the customer agreeing to pay this amount at the end of February Stephanie Inc. Employs proper Canadian accounting principles. Required: Prepare all journal entries(including both transaction and adjusting entries) required for the month of January which result from the above transactions. Assume that the business record adjusting entries at the end of each month, but not closing entries. Entries should be in proper journal entry format, except that explanations are not required, and placed on the following ANSWER TO SECTION TWO

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