Prepare Journal Entries to Record the Following Transactions for Mouser

Short Answer

Prepare journal entries to record the following transactions for Mouser Pet Foods, Inc. (in thousands).
a. Sell stock in company for $78,000
b. Obtain long-term bank loan of $30,000.
c. Purchase manufacturing equipment for $20,400 cash.
d. Rent manufacturing and warehousing space and pay $34,800 in advance for the year.
e. Purchase $30,000 of inventory, paying $6,000 in cash and the remaining amount on credit.
f. Sell half of the inventory purchased in transaction e., for $33,900 on account.
g. Pay $24,000 to creditors.
h. Make loan payment of $4,800 of which interest is $480 and the rest is principal.