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The events listed below all took place during the month of Dec 2019. You are required...

The events listed below all took place during the month of Dec 2019. You are required to determine if journal entries are needed to record these events in the books of Beauty Hairdressers. Provide the complete journal entries or state if no journal entries are necessary. Write yours answers in the space provided. Note: Complete journals include the correct date, DR/CR and narration regarding the transaction.

1. On 1 Dec 2019 Beauty Hairdressers obtained a start-up loan from a bank for $120,000. payable in 5 years.

2. On 3Dec 2019. Beauty Hairdressers purchased hair drying equipment for 35,000. A deposit of 15,000 was made and the balance payable in 60days. (2marks)

3. To help manage the scheduling of appointments a receptionist is interviewed and hired on 5 Dec 2019, for an annual salary of $46,000. She will start work on 1st Jan. ( 1 marks)

4. On 1 Dec 2019, Beauty Hairdressers paid $24,000 rent for the next 6 months. ( 1 marks)

5. A contract for cleaning services was signed between Beauty Hairdressers and Daily Clean on 15 Dec 2019. The agreed price is $2,000 per month to commence in 1February 2020.(1marks)

6. At 31 Dec 2019, what adjusting entry (if any) should be recorded for monthly rent? (2marks)

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