41 12/21Purchased bathroom and kitchen fixtures from Phoenix Plastics, on account, purchase order No. 319 for $48,330, terms 1/10, n/30. incurred during the last 30 days, terms n/30. December 21 contained the following information: 42 12/21 Received a bill from DeKalb Transport for $2,300 for freight costs 43 12/24The payroll summary for the biweekly pay period ended Friday, Delivery and warehouse wages FICA taxes withheld Federal income taxes withheld State income taxes withheld $5,770 415 1,067 225 Net pay Employer's payroll taxes: FICA ta:x Federal unemployment tax State unemployment tax $415 0 0 Issued check No. 1594 for the amount of the net pay and deposited it in the payroll bank account. Individual payroll checks were then prepared for distribution to the biweekly employees on Monday, December 24. 12/26 The board of directors voted to purchase 1,000 shares of its own stock from stockholder Dionne Schivone at $83 per share and issued check No. 1595 in payment. Stock repurchases are recorded at cost. Total Plumbing is purchasing these shares because Ms. Schivone had been a valuable employee. 45 12/26 The board of directors declared a $1.90 per-share cash dividend payable on January 14 to stockholders of record on December 26 (after purchase of stock). 46 12/26 The president informs you that Beverly's Building Product agrees to convert the $14,000 overdue accounts receivable (invoice No. 1119) balance to a 9% note due six months from today. 47 12/27A half-acre parcel of land adjacent to the building is acquired in exchange for 600 shares of unissued common stock. The land has a fair value ofS54,000 and will be used immediately as an outside storage lot and parking lot