1/1 BEGINNING BALANCES 1/8 Indiana buys 350 units of inventory at a cost of $102/unit on credit, terms net/60 1/12 Indiana pays off the beginning salaries payable balance. 1/19 Indiana pays off the beginning of the year accounts payable balance 1/21 Indiana sells 400 units to Sallah Co. for $300 each or credit, terms 2/15, net/45. 1/31 Indiana collects the amount owed by Sallah Co. within the discount period. 2/7 Indiana pays off the 1/8 purchase 2/15 Indiana pays off the beginning income taxes payable balance 2/18 Indiana pays $6,000 for office supplies 2/27 Indiana buys 400 units of inventory at a cost of $105/unit on credit, terms net/60 3/4 Indiana provides the services owed to a client. The client paid $35,000 in advance last year. 3/8 Indiana sells 250 units to Belloq Industries for $305 each on credit, terms 2/15, net/45. 3/14 Indiana grants Belloq Industries an allowance of $10,000 for damaged goods 3/22 Indiana collects the amount owed by Belloq Industries within the discount period 4/1 Indiana pays $15,000 for television advertising 4/8 Indiana pays off the 2/27 purchase 4/12 Indiana collects the amount owed by Thuggee Ltd. (see instructions). No discount applies. 4/25 Indiana writes of the Herr Oberst & SonsCo. A/R balance as uncollectible (see instructions) 5/1 Indiana buys 500 units of inventory at a cost of $110/unit in cash 5/8 Indiana sells 550 units to Short Round Ventures for $310 each on credit, terms 2/15, net/45 5/15 Indiana pays $15,000 of the interest payable balance 5/27 Indiana collects the amount owed by Short Round Ventures outside the discount period. 6/3 Indiana pays off the dividends payable balance 6/27 Indiana pays $1,000 for miscellaneous expenses 7/1 Indiana buys a short-term investment for $40,000. 7/10 Indiana buys a parcel of land for $15,000 cash. 7/17 Indiana buys 375 units of inventory at a cost of $112/unit on credit, terms net/60