The Baird Company, which is a fitness center, was formed on January 2 of the current year. Transactions completed during the first year of operation are presented below. (Click the icon to view the transactions.) The chart of accounts used by The Baird Company follows: B (Click the icon to view the chart of accounts.) Read the requirements Requirement a. Journalize the transactions for the year. (Record debits first, then credits. Exclude explanations from any journal entries.) January 2: Issued 400,000 shares of common stock for $7,600,000, which is the par value of the stock. Account January 2 Group 100: Assets Chart of Accounts Account Account Title 101 Cash 102 Accounts Receivable 103 104 110 Supplies Prepaid Insurance Equipment Accumulated Depreciation Equipment Accounts Payable 112 | 200: Liabilities 201 202 Unearned Service Revenue 203 210 Wages Payable Interest Payable Notes Payable 220 300: Stockholders' Equity 301 Common Stock 310 320 400: Revenues 401 500: Expenses 501 502 503 504 Retained Earnings Dividends Service Revenue Wage Expense Utilities Expense Selling Expense Administrative Expense Repairs Expense insurance Expense Supplies Expense Depreciation Expense-Equipment Interest Expense Income Summary 505 506 507 510 520 600: Other 601