Below are transactions for January $2024$ for ABC Company. Prepare journal entries for each transaction:

January $1$: ABC Company started its business with an initial investment of $$50,000$ in cash and $$20,000$ worth of equipment.

January $3$: Paid $$6,000$ cash in salaries for the month

January $5$: Purchased inventory on account for $$10,000.$

January $7$: Received $$15,000$ cash for the sales of goods relating to December.

January $8$: The customer that owed $N$$$1,000$ cannot be traced; therefore, the amount is written off.

January $10$: Sold inventory for $$15,000$ in cash, which cost $$8,000.$

January $12$: Received $$18,000$ cash for sales of $$18,600,$ to which the seller agreed.

January $15$: Paid $$5,000$ for rent for the month with cash.

January $20$: Received $$8,000$ cash in advance for services to be performed next month.

January $25$: Purchased office stationery for $$2,500$ in cash.

January $31$: Depreciation expense for the month on equipment is estimated to be $$500.$

Instructions:

Prepare journal entries for each of the transactions listed above.

Assume all transactions are independent of each other and no narration is required.