this is a general journal

2 Received a 10-year, 530000 loan at 7%. The principal is due at the end of the maturity period. Interest is to be paid monthly due on the Ist of the following month. January 1 J4 5 6 Purchased office equipment for $6000. Maden down payment of S1000 and the remaining balance in a promissory note with same as cash' financing terms (no interest). The equipment has a salvage value of $250 and estimated useful life of 5 years Paid rent for January through April totaling $2200. Purchased office supplies on account for $400. Purchased inventory on account for $14000. Sold inventory on account for $10000 which was purchased for $8000. Purchased a 12-month insurance policy for $1080. Purchased inventory at $6000 cash. Paid $2500 for advertising for January on social media, Sold inventory on account for $5600 which costed $4000. Received payment from customer from January 5 sale. Account was paid off in full. January 2 January 2 January 3 January 5 January 7 January 10 January 11 January 12 January 13 7 8 10 11 12 13 January 14 14 January 20 15 January 25 January 28 16 Paid employees' wages for the past 2 weeks totaling $4000. (Wages run $400 per day.) Received cash from customer for $11760 of inventory which cost $7000, Merchandise will not be shipped until February 2 per customer's request. Received payment on the sale dated January 12. Paid employees' wages for the past 2 weeks totaling $4000. (There are five work days each week.) January 28 is a Friday. No one works the weekend but employees do work January 31. Paid electricity bill for January that totaled $600. Paid for supplies purchased on January 2. There remains $250 worth of supllies in the cabinet today. Placed an order for $4000 worth of inventory. Inventory is not expected to be received until February 4 with terms of n/30. Paid S600 cash to shareholders for dividends. 17 January 30 January 31 18 19 January 31 20 January 31