Comprehensive Case 3 (Part Level Submission) Software Advisors Limited was organized on January 1, 2015. The company had the following transactions in the month of January: 2 Issued 1,080 common shares for $14 each. 3 Borrowed $54,000 from the bank on a long-term loan. 4 Finalized the lease for office space and paid the first month's rent of $3,240 5 Purchased $43,200 of equipment for $21,600 cash and $21,600 on account. 10 Paid for an advertisement in a local paper, $540. 11 Purchased supplies on account, $1,080. 13 Paid for several advertising spots on the local radio station, $3,240. 15 Paid employees $8,100 for the first two weeks of work. 17 Summarized and recorded the billings to clients for the first two weeks of January. January Billings totalled $16,200. These amounts are due by the 10th of the next month. 20 Paid $1,080 for the current month's office expenses. 24 Received $10,800 from dients in partial settlement of accounts billed on the 17th. 30 Paid annual insurance policy with coverage up to February 1, 2016, for $6,480. 30 Summarized and recorded the billings to clients for the last two weeks of January. Billings totalled $19,440. These amounts are due by the 28th of the next month. Paid employees $8,100 for the last two weeks of work. Made a payment to the bank of $320 for interest on the bank loan and $760 to pay on the amount owing for the bank loan. Paid Canada Revenue Agency $1,300 for an income tax instalment. 31 31 31 Journalize the Janua ary transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 2 10