3 Journalize the following transactions. Each transaction occurred independently. Assume that the closing date for a financial statement purpose is December 31 Explanations are not required. 1. On July 19, 2019 Akita International Corporation traded in a printing machine for a new one priced at $2,600 receiving a trade in allowance of $600 and the paying the balance in cash. The old machine cost $1,800 and had an accumulated depreciation of $1,400. What is the journal entry to record the acquisition of the new machine? 2. On December 25, 2019, Akita International Corporation paid employee salary, $4,000. At the year end, the AIC recognized unpaid salary $1,200 for 6 days (December 26-31, 2019) as accrued (2-1) Journalize an adjusting entry (entries) necessary at the date of the year end. (2-2) Journalize the transaction to be expected on the next salary payment date (January 25, 2020). Assume that the same amount of salary will be paid. 3 The AIC's unadjusted trial balance as of December 31, 2019 includes the total amount of accounts receivable $1,500 $600 (Customer A) was recorded during the accounting period (2017) and $400 (Customer B) and $500 (Cusomer C) were recorded during the current year (2019). The allowance for Bad Debt account as of January 1, 2019 had a credit balance of $250. (3-1) On December 25, 2019, Customer A went to bankruptcy, so the AIC considered the entire amount due from Customer A to be uncollectible. On the same date, a busness magazine revealed that Customer C became financially worse, so the AIC judged the account due from Customer C to be probably uncollectible. Record any journal entry to be recognized at the point of time, December 25, 2019. Note: Disregard (3-2) in answering the (3-1) question (3-2) On December 31, 2019, based on an analysis of the accounts receivable collectibility, the AIC concluded that the balance $600 of the Allowance for Bad Debt account at the end of the period would be required. Record any adjusting entry to be recognized at the end of period. Note: Disregard (3-1) in answering the (3-2) question date Dr Cr Example 3/1 Cash 1,000 Sales 1000 2-1 2-2 3-1 3-2