Question: Prepare the appropriate journal entries for each situation below. Be sure to show all your work and calculations. a) Jan 1-You received $6,000 cash

Prepare the appropriate journal entries for each situation below. Be sure to

Prepare the appropriate journal entries for each situation below. Be sure to show all your work and calculations. a) Jan 1-You received $6,000 cash from a customer for work to be completed later on. b) Jan 1-You paid a $2,400 insurance premium on Jan 1 of the year. The insurance coverage is for one full year (expires Dec 31). c) Jan 1-You purchased a piece of equipment for $13,000 with cash. d) Jan 1-You purchased $2,000 worth of supplies on credit from a vendor. e) Jan 31 - At the end of the month, you completed a portion of the work from "a)" above. The completed work is valued at $2,500 per your contract with the customer. f) Jan 31-Record the Insurance expense for the month. g) Jan 31-Record the equipment depreciation for the month ($500). h) Jan 31-At the end of the month, there was $800 worth of supplies still left on hand.

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