us.org/d2/Ims/dropbox/user/folder submit files.d212db-60213948grpid-08isprv 08bp 08ou 7653198 Accounting Cycles Helpful references from your text: -1 Accounting cycles through unadjusted trial balance . LO2-2, LO-3 Scenario Halogen Laminated Products Company began business on January 1. 2018. During January, the following transactions occurred (dates shown): . 1 Issued common stock in exchange for $100,000 cash .2 Purchased inventory on account for $35,000 (the perpetual inventory system is used). . 4 Paid an insurance company $2,400 for a one-year insurance policy . 10 sold merchandise on account for $12.000. The cost of the merchandise was $7,000 . 15 Borrowed $30,000 from a local bank and signed a note, Pri an interest at 10% is to be repaid in six months . 15 Borrowed $30,000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months. 20 Paid employees $6,000 salaries and wages for the first half of the month. . 22 Sold merchandise for $10,000 cash. The cost of the merchandise was $6,000 . 24 Paid $15,000 to suppliers for the merchandise purchased on January 2. - 26 Collected $6,000 on account from customers. 28 Paid $1.000 to the local utility company for January gas and electricity. - 30 Paid $4,000 rent for the building. $2.000 was for January rent. and $2.000 for February rent. Assignment 1. Prepare general journal entries to record each transaction. Omit explanations. 2. Post the entries to T-accounts. 3. Prepare an unadjusted trial balance as of anuary 30 2018 Suhmit