Halogen Laminated Products Company began business on January 1, 2011. During January,

Halogen Laminated Products Company began business on January 1, 2011. During January, the following transactions occurred:

Jan.      1          Issued common stock in exchange for $100,000 cash.

            2          Purchased inventory on account for $35,000 (the perpetual inventory system is used).

            4          Paid an insurance company $2,400 for a one-year insurance policy.

            10        Sold merchandise on account for $12,000. The cost of the merchandise was $7,000.

            15        Borrowed $30,000 from a local bank and signed a note. Principal and interest at 10% is to be repaid in six months.

            20        Paid employees $6,000 wages for the first half of the month.

            22        Sold merchandise for $10,000 cash. The cost of the merchandise was $6,000.

            24        Paid $15,000 to suppliers for the merchandise purchased on January 2.

            26        Collected $6,000 on account from customers.

            28        Paid $1,000 to the local utility company for January gas and electricity.

            30        Paid $4,000 rent for the building. $2,000 was for January rent, and $2,000 for February rent.

Required:

1.  Prepare general journal entries to record each transaction. Omit explanations.

2.  Post the entries to T-accounts.

3.  Prepare an unadjusted trial balance as of January 30, 2011.