122 Parts Financial Reporting and the Account unting Cycle Accounts Payable Accounts Recible Advertising pene Sang Capital Sock $ 55.000 125.000 5.000 250.000 Others Property est 35.000 55.000 1.000 95.000 3:50.000 Ement Land Morte Pie Nets Payable 20.000 1.000 1.500 7.500 40.000 155.000 2.000 187.000 15.000 7.000 See Seneste Sence Shorts este P 3-1 L03 Problems Transaction is and Journal Mimubishi Motors, Inc., which provides auto rental services, entered into the following transaction during the month of June Purchased a total of eight new cars and trucks from ear's Moons, Inc., for a total of $115,600 one half of which was paid in cash. The balance is down 15 day. The total cost of the vehicles to Jerry's Motors was 595.000 Purchased $3,300 of supplies on account from the Supply Company Pald 5720 to Mountain Hectric for the monthly bal Rent a track to Deve's Delivery, Inc. A $500 down payment was received with the balance of $1,000 due within 30 days Paid 55,120 to Steve Automotive for repair work on cars for the came month Rent a car to the town mayor, Rachel Mecham. There was $800 and was paid by Mecham immediately by cash * Borrowed 530,000 from a local bank to be repaid in one year with 12% rest Required For each of the transactions, make the proper journal entry on the books of Mubishi Morces. Come explanations) Journal Entries and Trance As of January 1, 2017, Gammon Corporation had the bowling balances nas peneral ledge P 3-2 Credits Duits 563.000 147.000 36.000 Cash Accounts Receivable Orice alone Accounts Pays Morgan Payable Notes Pay Capital Sock Ruined Tots $22.000 276.000 137.000 115.000 65,000 56600 DOC Gammon had the following transactions during 2017. All expenses were paid in cash, unless otherwise stated Collected 542,000 of receivables Accounts Payable as of January 1, 2017, were Paid utilities of $12.600 Provided services for 5370,000. go for cash and 10% for credit