Halogen Laminated Products Company began business on January 1,2018. During January, the following transactionsoccurred:
| Jan. | | 1 | | Issued common stock in exchangefor $108,000 cash. |
| | 2 | | Purchased inventory on accountfor $43,000 (the perpetual inventory system is used). |
| | 4 | | Paid an insurance company $3,360for a one-year insurance policy. |
| | 10 | | Sold merchandise on account for$12,800. The cost of the merchandise was $7,800. |
| | 15 | | Borrowed $38,000 from a localbank and signed a note. Principal and interest at 10% is to berepaid in six months. |
| | 20 | | Paid employees $6,800 salariesand wages for the first half of the month. |
| | 22 | | Sold merchandise for $10,800cash. The cost of the merchandise was $6,800. |
| | 24 | | Paid $15,800 to suppliers forthe merchandise purchased on January 2. |
| | 26 | | Collected $6,400 on account fromcustomers. |
| | 28 | | Paid $1,200 to the local utilitycompany for January gas and electricity. |
| | 30 | | Paid $4,800 rent for thebuilding. $2,400 was for January rent, and $2,400 for Februaryrent. |
Required:
1. Prepare general journal entries to record eachtransaction.
2. Post the transactions into the appropriateT-accounts.
3. Prepare an unadjusted trial balance as ofJanuary 30, 2018.
