Transactions during January 2020 follow! Jan 4: Purchased land for a future building site: paid cash, $12,000. Jan 1: Borrowed $15,000 cash on a five-year, 8 percent note payable, dated January 1. 2020. Jan 8: Earned $214.000 in revenues, including $53,000 on credit and the rest in cash. Jan 10: Sold 4.500 additional shares of capital stock for cash at St market value per share on Jan 15: Purchased supplies on account for future use, $20,000. Jan 18: Signed a three-year $33,000 service contract to start January 12, 2021 Jan 12: Incurred $112.000 in Remaining Expenses, including $22,000 on credit and the rest paid Jan 13: Collected accounts receivable, $33,000. January 10 2020. in cash. Jan 14: Purchased other assets, $14,500 cash. Jan 16: Paid accounts payable, $24,000. Jan 30: Declared and paid cash dividends, $25,000. 1. Prepare and record journal entries for the above transactions in the General Journal (GJI) below. All journal entries must have an explanation. Debit Credit Post Ref. 15.000 Date Account and Explanation Jan 1 Cash Long-Term Notes Payable (Borrowed cash and issued a note payable) 100 250 15,000 3 Jan 31: Supplies counted on January 31, 2020, S10,000 Jan 31: Depreciation for January 2020 on the equipment, 9,000. Jan 31: Interest accrued on notes payable for January 2020 (to be computed by student) Jan 31: Wages earned by employees since the December 24 payroll but not yet paid, $15.000. Data for adjusting entries Jan 31: Income tax expense, $12,000, payable in March 2020. ? Preparate and record journal entries for the above transactions in the General Journal (GJ2) below. GJ2 Credit Debit Date Post Ref. Account and Explanation Jan 31 Supplies Expense Supplies (Adjusting entry for supplies wed) 520 120 5 The following information applies to the questions displayed below. Two classmates Jane and Aaliyah began operations of their t-shirt printing shop (J & A Cloth Printers, Inc.) on January 1, 2019. The annual reporting period ends December 31. The trial balance on January 1, 2020, follows: Credit Debit 5,000 Account Titles TOS 6.000 Account # 100 110 120 130 12.000 79,000 8,000 7,000 140 141 150 210 220 230 240 250 300 310 320 400 540 520 530 550 560 570 Cash Accounts receivable Supplies Land Equipment Accumulated depreciation - Equipment Other assets (not detailed to simplify) Accounts payable Wages payable Interest payable Income taxes payable Long-term notes payable Common stock (8,000 shares, $0.50 par value) Additional paid-in capital Retained earnings Service revenue Depreciation expense Supplies expense Wages expense Interest expense Income tax expense Remaining expenses (not detailed to simplify) Totals 4.000 79,000 18,000 109,000 109,000