1.

Journal Entries
1. Dr: Shares 150000
Cr: Money 100000
2. Dr: Supply 60000
Cr Account Payable 55000
Cr Cash 5000
3. Dr Cash 80000
Cr Sale Revenue 80000
Dr Cost of goods sold 40000
Cr Inventory 40000
4. Dr Account Receivable 35000
Cr Sale Revenue 35000
Dr Cost of goods sold 15000
Cr Inventory 15000
5. Dr Equipment 50000
Cr Cash 50000
Dr Depreciation Expense 5000
Cr Accumulated depreciation 5000
6. Dr Prepaid Insurance 24000
Cr Cash 24000
7. Dr Electricity Expense 3000
Cr Cash 3000
8. Dr Prepaid Rent 12000
Cr Cash 12000