you only need to answer the highlighted questions( journal entries only in excel format)
JHJ RENTAL CAR COMPANY FINANCIAL TRANSACTIONS 1. Invested $50,000 to start JHJ rental car company 2. Receipt of short-term working capital loan $75,000 3. Paid cash of $10,000 for supplies 4. Paid cash of $24,000 for two-year insurance policy 5. Purchased equipment on account in the amount of $10,000 6. Purchased $15,000 in supplies on account 7. Paid advertising expense of $10,000 8. Purchased ten autos for $30,000 each paying $50,000 down and signed a note for the balance 9. Received cash car rental revenue $400,000 10. Paid office salaries of $80,000 11. Paid rent expense of $40,000 12. Car rental revenue earned from corporate customers on account $100,000 13. Paid on accounts payable $20,000 14. Collection of cash from corporate customers $100,000 15. Invested an additional $100,000 in the business 16. Received cash car rental revenue $500,000 17. Paid sales salaries of $300,000 18. Car rental revenue earned from corporate customers $50.000 19. Collection of cash from corporate customers $50,000 20. Paid rent expense of $40,000 21. Paid delivery expenses of $4,000 22. Paid dividends of $5,000 23. Purchased supplies on account $20,000 24. Purchased supplies paying cash of $5,000 25. Paid principal on note payable $40,000 26. Paid interest expense on note payable $4,000 27. Cash car rental revenue received $75,000 28. Car rental revenue billed to corporate customers $125,000 29. Collections from corporate customers $125,000 30. Paid advertising expense $12,000 31. Paid miscellaneous office expenses $2,000 32. Invested additional $50,000 in the business 33. Paid dividends of $10,000 34. Purchased land for $200,000 paying $50,000 down and signed a note for balance 35. Paid principal on note payable $50,000 36. Paid interest on note payable $5,000 37. Received cash care rental income of $150,000 38. Billed corporate customers for car rental $250,000 39. Collected car rental income from corporate customers $100,000 40. Paid dividends $20,000 41. Purchased supplies on account $15,000 42. Corporate car rental revenue earned totaled $150,000 43. Collections of car rental revenue on account $125,000 44. Supplies purchased on account $15,000 45. Payment on account payable $12,000 46. Cash sales $250,000 47. Office rental expenses $75,000 48. Paid principal of $30,000 and interest of $15,000 on autos. 49. Flood expenses incurred and paid after hurricane Harvey $80,000 50. Salary expenses $125,000 51. Purchased land costing $200,000 each and paid 20% down and signed a note for the balance 52. Paid principal of $10,000 and interest of $5,000 on land note. 53. Corporate car rental revenue earned totaled $200,000 54. Collections of car rental revenue on account $175,000 55. Supplies purchased on account $25,000 56. Payment on account payable $22,000 57. Cash sales $150,000 58. Office advertising expenses $15,000 59. Paid principal of $20,000 and interest of $5,000 on working capital loan. 60. Scholarship contribution to T. S. University $20,000. 61. Salary expenses $150,000 62. Ending supplies inventory $20,000 63. Bad debt expense 1% of credit sales 64. Dwight Howard paid $20,000 in advance to rent cars for friends for the NBA All Star Game 65. Depreciation expense on equipment is calculated utilizing straight-line method and five- year life 66. Depreciation expense on autos is calculated utilizing the double declining balance method and a five-year life 67. Record expiration of one year's insurance premiums 68. Accrued salaries at end of year totaled $12,000 69. Dwight Howard was provided cars for all-star game 70. Car rental revenue received in advance from James Hardin for opening night to transport his entourage to the game $15,000 for five limousines 71. Actual car rental revenue earned after transporting James Hardin entourage for opening night to the game $12,000 as only four limousines were needed 72. Reimbursement check sent to James Hardin for non-required limousine 73. Federal Income tax rate 10% REQUIRED: 1. PREPARE JOURNAL ENTRIES AND POST ALL ENTRIES TO LEDGER JHJ RENTAL CAR COMPANY FINANCIAL TRANSACTIONS 1. Invested $50,000 to start JHJ rental car company 2. Receipt of short-term working capital loan $75,000 3. Paid cash of $10,000 for supplies 4. Paid cash of $24,000 for two-year insurance policy 5. Purchased equipment on account in the amount of $10,000 6. Purchased $15,000 in supplies on account 7. Paid advertising expense of $10,000 8. Purchased ten autos for $30,000 each paying $50,000 down and signed a note for the balance 9. Received cash car rental revenue $400,000 10. Paid office salaries of $80,000 11. Paid rent expense of $40,000 12. Car rental revenue earned from corporate customers on account $100,000 13. Paid on accounts payable $20,000 14. Collection of cash from corporate customers $100,000 15. Invested an additional $100,000 in the business 16. Received cash car rental revenue $500,000 17. Paid sales salaries of $300,000 18. Car rental revenue earned from corporate customers $50.000 19. Collection of cash from corporate customers $50,000 20. Paid rent expense of $40,000 21. Paid delivery expenses of $4,000 22. Paid dividends of $5,000 23. Purchased supplies on account $20,000 24. Purchased supplies paying cash of $5,000 25. Paid principal on note payable $40,000 26. Paid interest expense on note payable $4,000 27. Cash car rental revenue received $75,000 28. Car rental revenue billed to corporate customers $125,000 29. Collections from corporate customers $125,000 30. Paid advertising expense $12,000 31. Paid miscellaneous office expenses $2,000 32. Invested additional $50,000 in the business 33. Paid dividends of $10,000 34. Purchased land for $200,000 paying $50,000 down and signed a note for balance 35. Paid principal on note payable $50,000 36. Paid interest on note payable $5,000 37. Received cash care rental income of $150,000 38. Billed corporate customers for car rental $250,000 39. Collected car rental income from corporate customers $100,000 40. Paid dividends $20,000 41. Purchased supplies on account $15,000 42. Corporate car rental revenue earned totaled $150,000 43. Collections of car rental revenue on account $125,000 44. Supplies purchased on account $15,000 45. Payment on account payable $12,000 46. Cash sales $250,000 47. Office rental expenses $75,000 48. Paid principal of $30,000 and interest of $15,000 on autos. 49. Flood expenses incurred and paid after hurricane Harvey $80,000 50. Salary expenses $125,000 51. Purchased land costing $200,000 each and paid 20% down and signed a note for the balance 52. Paid principal of $10,000 and interest of $5,000 on land note. 53. Corporate car rental revenue earned totaled $200,000 54. Collections of car rental revenue on account $175,000 55. Supplies purchased on account $25,000 56. Payment on account payable $22,000 57. Cash sales $150,000 58. Office advertising expenses $15,000 59. Paid principal of $20,000 and interest of $5,000 on working capital loan. 60. Scholarship contribution to T. S. University $20,000. 61. Salary expenses $150,000 62. Ending supplies inventory $20,000 63. Bad debt expense 1% of credit sales 64. Dwight Howard paid $20,000 in advance to rent cars for friends for the NBA All Star Game 65. Depreciation expense on equipment is calculated utilizing straight-line method and five- year life 66. Depreciation expense on autos is calculated utilizing the double declining balance method and a five-year life 67. Record expiration of one year's insurance premiums 68. Accrued salaries at end of year totaled $12,000 69. Dwight Howard was provided cars for all-star game 70. Car rental revenue received in advance from James Hardin for opening night to transport his entourage to the game $15,000 for five limousines 71. Actual car rental revenue earned after transporting James Hardin entourage for opening night to the game $12,000 as only four limousines were needed 72. Reimbursement check sent to James Hardin for non-required limousine 73. Federal Income tax rate 10% REQUIRED: 1. PREPARE JOURNAL ENTRIES AND POST ALL ENTRIES TO LEDGER
