Question #1)9 MarksPrepare the appropriate journal entries for each situation below. Be sure to show all your work and calculations.\table[[a),Jan 1- You received $6,500 cash from a customer for work to be completed later on.],[b),Jan 1- You paid a $3,600 insurance premium on Jan 1 of the year. The insurance coverage is for three full years.],[c),Jan 1- You purchased a piece of equipment for $15,000 using a long-term note. The equipment is expected to last 4 years when you estimate it'll be sold for $2,000.],[d),Jan 1- You purchased $2,000 worth of supplies with cash from a vendor.],[e),Jan 31- At the end of the month, you completed a portion of the work from "a)" above. There is only $2,000 worth of work left to complete next month.],[f),Jan 31- Record the insurance expense for the month.],[g),Jan 31- Record the equipment depreciation for the month.],[h),Jan 31- You counted your supplies in the cabinet and estimate there are $800 worth left. Assume the only supplies you've purchased have been the ones from Jan 1.],[i),Jan 31- You sign a contract for a new computer. The computer is not yet ready from the vendor. They expect that it'll be ready for you to use by March 5th. The computer will cost $2,200 and you'll pay for it with cash when the computer is delivered in March.]]