Tom Zopf owns and manages a computer repair service, which had the following trial balance on December 31, 2019 (the end of its fiscal year).

Monty Corp.

Trial balance

December 31, 2019

Debit Credit

Cash $7,300

Accounts Receivable 15,800

Supplies 13,100

Prepaid Rent 2,600

Equipment 19,500

Accounts Payable $17,000

Common Stock 30,000 Retained Earnings 11,300 Total $58,300 $58,300

Summarized transactions for January 2020 were as follows.

1.Advertising costs, paid in cash, $1,050.

2.Additional supplies acquired on account $4,240.

3.Miscellaneous expenses, paid in cash, $1,620.

4.Cash collected from customers in payment of accounts receivable $12,700.

5.Cash paid to creditors for accounts payable due $12,180.

6.Repair services performed during January: for cash $6,410; on account $9,060.

7.Wages for January, paid in cash, $2,000.

8.Dividends during January were $2,670.

Prepare journal entries to record each of the January transactions.

Post the journal entries to the accounts in the ledger.