Question: need help with the question thats wrong Galle Inc. entered into the following transactions during January. a. January 1: Borrowed $171,000 from First Street Bank

need help with the question thats wrong
need help with the question thats wrong Galle Inc. entered into the

Galle Inc. entered into the following transactions during January. a. January 1: Borrowed $171,000 from First Street Bank by signing a note payable. b. January 4: Purchased $25,000 of equipment for cash. c. January 6: Paid $500 to landlord for rent for January. d. January 15: Performed services for customers on account, $27,300. e. January 25: Collected $3,000 from customers for services performed in Transaction d. f. January 28: Purchased land for $300,000 by paying $19,000 cash and obtaining a loan for the balance. g. January 30: Paid salaries of $6,500 for the current month. Required: Prepare journal entries for the transactions. If an amount box does not require an entry, leave it blank, Jan. 1 Cash 171,000 Notes Payable 171,000 4 Equipment 25,000 Cash 25,000 6 Rent Expense 500 Cash 500 15 Accounts Receivable 27,300 Service Revenue 27,300 25 Cash 3,000 Accounts Receivable 3,000 28 Land 300,000 Cash 19,000 Notes Payable 152,000 X 30 Salaries Expense 6,500 Cash 6,500

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