TRAN SAC'HONS This should match the last 5 dig" of y student ID + $700.\" August: 1 . X,XXX of common shares in the new company for cash. Purchased land and a building worth $430,000 and $3?0,000 respectively, by making a down payment of $50,000 and securing a mortgage through RBC (Royal Bank of Canada) for the difference. Purchased a two-year insurance policy for $38,000 effective today. A large corporate client paid $44,000 for storage services in advance. Purchased $3,800 of ofce supplies from Staples on account. Paid employees $4,200 representing two weeks' salary. Summarized and recorded the billings to customers for the rst three weeks of August for storage fees earned. Biliings totaled $78,000. Received $43,000 from customers in partial settlement of accounts billed on the 21st. Paid another $4,200 for two weeks' salary. Repaired the leaking roof for $12,000 on account. Paid Staples for the office supplies purchased on August 2. Paid the month's $800 phone bill. Paid out dividends to shareholders of $3,200. Made a mortgage payment of $11,800 to the bank consisting of $3,800 in interest and $8,000 in principal. Use the following information tojournalize and post the adjustments for the month. a. roe-.0? Ih One month's insurance coverage was consumed. There was $1,400 of office supplies on hand at the end ofthe month. The building has an estimated useful life of 25 years and a salvage value of $85,000. Employees had earned $2,100 of unpaid and unrecorded salary. A review of the contract with the corporate client that paid $38,000 in advance for storage services on August 1 revealed that one-quarter of the services had been completed in the month. The company had earned $17,000 of storage fees that had not yet been billed. Income taxes for the month were estimated to be $1,300