Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred: Jan. 1 Issued common stock in exchange for $118,000 cash. 2 Purchased inventory on account for $27,000 (the perpetual inventory system is used). 4 Paid an insurance company $1,440 for a one-year insurance policy. Prepaid insurance was debited for the entire amount. 10 Sold merchandise on account for $11,200. The cost of the merchandise was $6,200. 15 Borrowed $22,000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months. 20 Paid employees $5,200 salaries for the first half of the month. 22 Sold merchandise for $9,200 cash. The cost of the merchandise was $5,200. 24 Paid $14,200 to suppliers for the merchandise purchased on January 2. 26 Collected $5,600 on account from customers. 28 Paid $1,000 to the local utility company for January gas and electricity. 30 Paid $3,200 rent for the building. $1,600 was for January rent, and $1,600 for February rent. Prepaid rent and rent expense were debited for their appropriate amounts. Required: Post the transactions into the appropriate T-accounts