1. Journalize the following transactions using the perpetual inventory method 6 Aug Purchased $830 of inventory on account from Johnston with terms of 2/10, n/30 8 Aug Purchased $2,611 of inventory for cash from Pillner Company 15 Aug Paid for August 6 purchase from Johnston 17 Aug Purchased $1,743 of merchandise on account from Luis Company with terms of 3/15, n/45 2. Prepare the general journal entries for the following transactions: Jan 2, 2011 Purchased land with a building on it for $750,000. The land is worth $300,000. Paid $15,000 cash down and signed a mortgage payable for the balance. Dec 31,2011 Depreciation is computed using the straight-line method. The estimated salvage value of the building is $75,000 and has an estimated life of 20 years. July 1, 2012 The building and land are sold for $825,000 cash. 14. Journalize the following treasury stock transactions: June 3 Reacquired 350 shares of $12 par common stock at $10 per share June 7 Sold 180 shares of treasury stock for $16 per share June 8 Sold 150 shares of treasury stock for $9 per share 15. Lowry Landscapes had net income of $50,000 for 2010. Land was sold for $40,000, of which $3,000 was a gain. The beginning balance was $53,000, and the ending cash balance was $151,000. Depreciation expenses were $11,000. Prepare a statement of cash flows for the year ending December 31, 2010, for Lowry Landscapes using the indirect method