January 1 SSP owners Clayton Garrison and Adam Klement each invested $100,000 in the company. Each owner received 5,000 shares of common stock. The shares of common stock have a $1 par value

January 2 Saluki Company borrowed $100,000 from SIL Bank and signed two notes. The first note for $50,000 requires the payment of principle and 9.6% interest in one year. The second note for $50,000 requires the payment of principle in two years. Interest at 7.8% is payable each year starting on January 2, 2017 and January 2, 2018.

January 2 Paid $18,000 in advance for one year's rent on the store building.

January 2 Purchased furniture and fixtures from Schmitt's Furniture Factory for $20,400 cash. The furniture and fixtures are expected to have zero salvage value, a useful life of 5 years, and will be depreciated using the straight-line method.

January 2 Purchased $20,000 of inventory on account from Sports Stuff Limited. January 3 Purchased $1,000 of supplies for cash.

January 4-31 During the month, sold merchandise costing $8,000 for $18,260 cash. January 11 Sold memorabilia on account to the Southern Illinois Regional Sports Hall of Fame for $3,200. The memorabilia cost $1,700.

January 17 Paid Sports Stuff Limited $20,000 on account.

January 23 Received $3,200 on account from the Southern Illinois Regional Sports Hall of Fame.

January 31 Received a $312 bill from Little Egypt Power & Water for January utilities. The bill is due on February 10th.

January 31 Received a $148 bill from Midwest Internet for internet service used during the month of January. The bill is due on February 14th. January 31 Accrued monthly salaries owed to employees for the month of January totaling $5,640.

January 31 Examination of the supplies on hand indicated that supplies totaling $280 remained unused

question:

Record the appropriate journal entry for each of the transaction listed above in the general journal.