Record the following transactions in the general journal and prepare the worksheet Jan. 20, 2005: owners invested $80,000 in exchange for capital stock. Jan. 21, 2005: purchased the land for 52,000 Jan.22, 2005: purchased building from Co. M for 36,000; 6000 cash made down payment and issued a 90 day, non-interest bearing note payable for the remaining 30,000. Jan. 23, purchased tools and equipment on account from Snappy tools. The purchase price was $13,800, due in 60 days. Jan 24, 2005: The company sold the excess tools on account to co. AC at a price of 1,800. The tools were sold at a price equal to their cost. Jan 26, 2005: the company received 600 in partial collection of the account receivable from company AC. Jan. 27, 2005: The Company made 6,800 partial payment of its accounts payable to Snappy tools. Jan. 31, 2006: revenue of 2,200 is earned, all of which was received in cash. Jan.31 Paid employees wages in January, $1,200. Jan.31. paid for utilities used in January, $200 Feb. 1. Paid 360 cash news advertising for February. Feb. 1. Purchased radio advertising for February at a cost of 470, payable within 30 days . Feb.4. Purchased various shop supplies ; cost 1,400, due in 30 days. Feb.15: collected 4980 cash fro repairs made to vehicles. Feb. 28 Billed Co. H, 5400 for maintenance and repair services provided in Feb. The agreements with co. H calls for payment to be received by March 10. Feb. 28 paid employees wages earned in Feb, 4900. Feb. 28: recorded 1,600 utility bill for Feb. The entire amount is due March 15.​