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In: AccountingRecord each of these transactions in Journal entries and preparethe Ledger for Cash & Cash...Record each of these transactions in Journal entries and preparethe Ledger for Cash & Cash Equivalents, Accounts Receivable andAccounts Payable:Jan. 1st Frank's Pizza started thebusiness by depositing $50,000 received from the sale of capitalstock in the company bank account.Jan. 22ndPurchased a building for$36,000, paying $6,000 in cash and issuing a note payable for theremaining $30,000.Jan. 25thPurchased tools andequipment on account, $13,800.Jan. 27thSold some of the tools ata price equal to their cost, $1,800, collectible within 45days.Feb. 2ndReceived $600 in partialcollection of the account receivable from the sale of tools.Feb. 7thPaid $6,800 in partialpayment of an account payable.Feb. 11thReceived $2,200 of salesrevenue in cash.Feb. 2oth Purchased radio advertising fromRAC105 to be aired in March. The cost was $470, payable within 30days.Jan. 22ndPurchased officeequipment for $15,000 cash.Jan. 26thPerformedrepair services and billed clients $2,000. The entire amount willnot be collected until February.