Wicked Wild Company is a service based company that rents canoes for use on local lakes and rivers. At the beginning of the new year, Wicked Wild Company decided to carry and sell T-shirts with its logo printed on them Wicked Wild Company uses the perpetual inventory system to account for the inventory During January 2025, Wicked Wild Company completed these merchandising transactions, and posted the merchandising transactions to the ledger accounts Wicked Wild Company does not typically prepare adjusting and closing entries each month, but the company is surprised at how popular the shirts are and wishes to know the net income for January and would also like to understand how to prepare the closing entries for a merchandising company During January 2025, Wicked Wild Company completed the following non-merchandising transactions: (Click the icon to view the non-merchandising transactions) Read the requirements MYYD Requirement 1. Journalize and post the January transactions Omit explanations. Use the ledger provided for posting. Begin by journalizing the non-merchandising January transactions Omit explanations (Record debits first, then credits Exclude explanations from any journal entries) Jan 2 Collected $2,400 on account Date Jan 2 Accounts Debit Credit Jan. 15. Paid the utilities and telephone bills from December (On December 20, the company received bills for the telephone ($350) and utilities ($240). At that time the company recorded a Telephone Payable liability and a Utilities Payable liability, respectively Prepare a single compound journal entry for this transactions) Date Jan 15 Accounts Debit Credit Jan 15 Paid the wages accrued in December (Wages accrued in December amounted to $1,000 and was recorded as a Wages Payable liability.) Date: Jan 15 Accounts Jan 18 Rented canoes and received cash, $1,900 Date: Jan 18 Debit Credit Accounts Debit Credit