Journalizing, Posting, and Trial Balance. Yoshida Gardens, a retailer of garden sup- plies and equipment, had the accompanying balance sheet accounts, December 31, 20X7:

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Cash Accounts receivable Inventory Prepaid rent Store equipment Less: Accumulated depreciation Total *For merchandise only. Assets Liabilities and Stockholders' Equity $ 19,000 Accounts payable* $111,000 40,000 Paid-in capital 40,000 131,000 Retained earnings 79,000 4,000 $60,000 24,000 36,000 $230,000 Total $230,000 Following is a summary of transactions that occurred during 20X8: a. Purchases of merchandise inventory on open account, $550,000. b. Sales, all on credit, $800,000. c. Cost of merchandise sold to customers, $440,000. d. On June 1, 20X8, borrowed $80,000 from a supplier. The note is payable in 4 years. Interest is payable yearly on December 31 at a rate of 15 percent per annum. e. Disbursed $25,000 for the rent of the store. Add to Prepaid Rent. f. Disbursed $165,000 for wages through November. g. Disbursed $75,000 for miscellaneous expenses such as utilities, advertising, and legal help. (Combined here to save space. Debit Miscellaneous expenses.) h. On July 1, 20X8, lent $20,000 to the office manager. He signed a note that will mature on July 1, 20X9, together with interest at 10 percent per annum. Interest for 20X8 is due on December 31, 20X8. i. Collections on accounts receivable, $691,000. j. Payments on accounts payable $471,000. The following entries were made on December 31, 20X8: k. Recognized rent expense for 20X8. $3,000 of prepaid rent is applicable to 20X9, the remainder expired in 20X8.