Question

cation is: X 1 Owners invest $24,000 of additional cash in the business. 2a Supplies are purchased for $850 on account 2b insurance is paid for 12 months beginning January t: $7:40 (Record as an asset) 2c Rent is paid for 3 months beginning in January $3,450 (Record as an asset 2d Two employees are hired Each employee will be pald $1.290 per month 3 FFD borrows S27000 from 1st State Bank at 6% annual interest. 6 A delilvery van is purchased for cash. Including tox the total cost was $43.200. It will be used for 4 years and will be depreciated monthly using straight-line with no salvage value. A full month of depreciation will be charged in January 7 $525 of the receivables from December's sales are collected 8 $532 of the accounts payable from December are paid 9 Performe 10 Services are performed for cash customers: $6,580 16 Wages for the frst half of the month are paid on January 16 $1.290 d services for customers on account Mailed invoices totaling $9.400 recelves $3.050 from a customer for an advance order for services to be provided in January and Februory 25 Collections from customers on account (see January 9 transactiony $3.760 300 The last 2 weeks weges earned by employees are $645 per emoloyee and will be paic on February 3 A S815 utility bil tor January arrived it is due on February 15 30