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.

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The Answer of 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.

Prepare Journal Entries to Record the Following Transactions for Mouser