There are 12 journal entries required. If no entry is required for a transcation/event then select no journal entry required.

The following are the transactions relating to the formation of Gray Mowing Services incorporated and its first month of operations. a. The firm was organlzed and the initial stockholders invested cash of $12,000 b. The comparny borrowed $18,000 from a relative of one of the initiat stockholders; a short-term note was signed. c. Two zero-turn lawn mowers costing $7,600 each and a professional trimmer costing $2,600 were purchased for cash. The original list price of each mower was $10,200, but a discount was recelved because the seller was having a sale. d. Gasoline, oll, and several packages of trash bags were purchased for cash of $1,800. e. Advertising flyers announcing the formation of the business qud a newspaper ad were purchased. The cost of these items, 53,400 , witt be poid in 30 days. t. During the first two weeks of operations, 94 lawns were mowed. The total revenue for this work was $14,100,59,300 was collected in cash, and the balance will be recelved within 30 days. 9. Employees were paid $8.400 for their work during the first two weeks: h. Additional gasoline, oll, and trash bags costing \$2,200 were purchased for cash. L In the last two weeks of the first month, revenues totaled $18,400, of which $7,500 was collected. 1. Employee wages for the last two weeks totaled $10,200; these will be paid during the first week of the next month K. If was determined that at the end of the month the cost of the gasoline, oil, and trash bags still on hand wos $600. 1. Customers paid a total of $3,000 due from mowing services provided during the first two weeks. The revenue for theire sorvices was recognized in transaction f