ces Exercise 4-9 (Algo) Write journal entries LO 4-6 The transactions relating to the formation of Blue Company Stores Incorporated, and its first month of operations follow. a. The firm was organized and the stockholders invested cash of $8,200. b. The firm borrowed $4,800 from the bank; a short-term note was signed. c. Display cases and other store equipment costing $1,600 were purchased for cash. The original list price of the equipment was $1,950, but a discount was received because the seller was having a sale. d. A store location was rented, and $1,550 was paid for the first month's rent. e. Inventory of $15,200 was purchased; $8,600 cash was paid to the suppliers, and the balance will be paid within 30 days. f. During the first week of operations, merchandise that had cost $4,700 was sold for $6,400 cash. g. A newspaper ad costing $100 was arranged for, it ran during the second week of the store's operations. The ad will be paid for in the next month. h. Additional inventory costing $4,200 was purchased; cash of $1,200 was paid, and the balance is due in 30 days. i. In the last three weeks of the first month, sales totaled $13,500, of which $9,100 was sold on account. The cost of the goods sold totaled $8,000. J. Employee wages for the month totaled $1,800; these will be paid during the first week of the next month. k. The firm collected a total of $3,700 from the sales on account recorded in transaction i 1. The firm paid a total of $4,900 of the amount owed to suppliers from transaction e. Required: Prepare the journal entries for each of these transactions. Note: If no entre le ranurad for a trancactionlauent celect "Na inuensi ant ranulead" in the fleet scent field