TTF Co. was incorporated on November 1, 2012.

1. On Nov 1, 2012, TTF Co. issued 50,000 shares of common shares at $100 per share. The par value per share is $1.
2. On Nov 1, 2012, TTF paid $3,000 insurance for the following six months.
3. On Nov 1, 2012, TTF purchased two equipments for $60,000. The useful life of each equipment is estimated to be 5 years, and TTF uses straight-line depreciation method (assuming the residual values are zero).
4. On Nov 1, 2012, TTF borrowed $12,000 from CDP Co. in the form of a 2-year note. The note has an annual interest rate of 10%, and the first interest payment is due on April 30, 2013.
5. TTF pays its employees on the last work day of each month. Each month's payroll is $1,000. The last work day in November is Nov 30, 2012, and the last work day in December is Dec 30, 2012.
6. On Dec 1, 2012, TTF provided service to Larry, charging $6,000. Larry paid $1,000 in cash and promised to pay the balance on January 15, 2013.
7. On Dec 7, 2012, TTF received a $4,500 check from Maria for a service that TTF will provide to Maria on Feb 15, 2013.

Record all journal entries before Dec 31, 2012