The transactions relating to the formation of Blue Co. Stores Inc., and its first month of operations follow.

a. The firm was organized and the stockholders invested cash of $7,300.

b. The firm borrowed $4,700 from the bank; a short-term note was signed.

c. Display cases and other store equipment costing $1,650 were purchased for cash. The original list price of the equipment was $1,960, but a discount was received because the seller was having a sale.

d. A store location was rented, and $1,200 was paid for the first month's rent.

e. Inventory of $14,200 was purchased; $9,400 cash was paid to the suppliers, and the balance will be paid within 45 days.

f. During the first week of operations, merchandise that had cost $3,400 was sold for $7,000 cash.

g. A newspaper ad costing $130 was arranged for; it ran during the second week of the store's operations. The ad will be paid for in the next month.

h. Additional inventory costing $4,500 was purchased; cash of $1,200 was paid, and the balance is due in 30 days.

i. In the last three weeks of the first month, sales totaled $13,250, of which $9,600 was sold on account. The cost of the goods sold totaled $8,100.

j. Employee wages for the month totaled $2,000; these will be paid during the first week of the next month.

k. The firm collected a total of $3,500 from the sales on account recorded in transaction i.

l. The firm paid a total of $4,800 of the amount owed to suppliers from transaction e.

Required: Prepare the journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 1 14 > N IHREE The firm was organized and the stockholders invested cash of $7,300. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Required: Prepare the journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet HERRE The firm borrowed $4,700 from the bank; a short-term note was signed. Note: Enter debits before credits. General Journal Debit Credit Transaction b. Record entry Clear entry View general journal Journal entry worksheet Display cases and other store equipment costing $1,650 were purchased for cash. The original list price of the equipment was $1,960, but a discount was received because the seller was having a sale. Note: Enter debits before credits. Transaction General Journal Debit Credit C Record entry Clear entry View general journal View transaction list Journal entry worksheet A store location was rented, and $1,200 was paid for the first month's rent. Note: Enter debits before credits. General Journal Debit Credit Transaction d. Record entry Clear entry View general journal View transaction list Journal entry worksheet Inventory of $14,200 was purchased; $9,400 cash was paid to the suppliers, and the balance will be paid within 45 days. Note: Enter debits before credits. Transaction General Journal Debit Credit e. Record entry Clear entry View general journal Required: Prepare the journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet EIII. Record the sale of 000 merchandise for cash. Note: Enter debits before credits. General Journal Debit Credit Transaction f(1). Record entry Clear entry View general journal Required: Prepare the journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the cost of goods sold worth 3,400. Note: Enter debits before credits. General Journal Debit Credit Transaction f(2). Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 ..... 6 7 8 09 9 10 11 ..... 14 A newspaper ad costing $130 was arranged for; it ran during the second week of the store's operations. The ad will be paid for in the next month. Note: Enter debits before credits. Transaction General Journal Debit Credit g. Record entry Clear entry View general journal Journal entry worksheet Additional inventory costing $4,500 was purchased; cash of $1,200 was paid, and the balance is due in 30 days. Note: Enter debits before credits. General Journal Debit Credit Transaction h. Record entry Clear entry View general journal View transaction list Journal entry worksheet Record the sale of $13,250 merchandise, of which $9,600 was sold on account and the balance in cash. Note: Enter debits before credits. Transaction i(1). General Journal Debit Credit Record entry Clear entry View general journal Required: Prepare the journal entries for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the cost of goods sold worth 8,100. Note: Enter debits before credits. General Journal Debit Credit Transaction i(2) Record entry Clear entry View general journal View transaction list Journal entry worksheet Employee wages for the month totaled $2,000; these will be paid during the first week of the next month. Note: Enter debits before credits. General Journal Debit Credit Transaction 1 Record entry Clear entry View general journal Journal entry worksheet The firm collected a total of $3,500 from the sales on account recorded in transaction i. Note: Enter debits before credits. General Journal Debit Transaction k. Credit Record entry Clear entry View general journal Journal entry worksheet The firm paid a total of $4,800 of the amount owed to suppliers from transaction e. Note: Enter debits before credits. Transaction General Journal Debit Credit I. Record entry Clear entry View general journal