Problem 1 12 points (2 points each journal entry) The following tranactions occurred for Jones Company and recorded by the accountant, Paul Baxter Jan. 2 - The company issued $40,000 in common stock.. Jan. 3 - The company receives $8,000 cash for fees earned from customer. Jan. 4 - Paul invoices customer on account for $4,000 for fees earned. Jan. 5 -The company recevices $300 from customer on their account Jan. 6 - Paul Purchased $100 of supplies on account. Jan. 7 - The company paid dividends of $2,000 cash. Journalize the transactions above. Page 1 Credit Date Description Post Ref. Debit Part B - Post to ledgers the above journal entries and balance after each transaction. Assume all entries are on journal page 1 for post reference in ledgers. Place account numbers as post reference in the journal when done posting. 12 points (1 point each posting and balancing) Cash 11 Balance Date Item Post Ref. Debit Credit Debit Credit AR 12 Balance Date Item Post Ref. Debit Credit Debit Credit Supplies 14 Balance Date Item Post Ref. Debit Credit Debit Credit AP 22 Balance Date Item Post Ref. Debit Credit Debit Credit Common Stock 31 Balance Date Item Post Ref. Debit Credit Debit Credit Dividends 32 Balance Date Item Post Ref. Debit Credit Debit Credit Fees Earned 41 Balance Date Item Post Ref. Debit Credit Debit Credit