Any help is greatly appreciated, Im trying to put these transactions into journal entries (but lost), my first ever question on here.

TRANSACTIONS FOR JULY, 1990 The following transactions should have been ana- lyzed and entries, where necessary, should have been made in the appropriate journal(s). In your search for errors, you should verify that correct entries have been ber. Advertising for July had been prepaid in June, 6 Purchased $50,000 of merchandise from made and posted to the corect accounts. Thomas Corporation, terms 2/10, n/30, FOB July 1 To meet financing noeds for major renovation and expansion plans, additional long-term funds mast be generated. Therefore, on this date, $0,000 shares of $5 par common stock were issued at a market price of $30 per share. 6 Paid Rapid Cross-Country Truck Lines $325 for transportation charges on merchandise de- livered from Stanley Manufacturing Company This merchandise was purchased on July 1 In addition, 500 $1,000 face value, 10% bonds due 6 years from this date were issued for $546,927, resulting in an effective interest rate of 8%. Interst will be paid semi-annually to bondholders each December 31 and June 30 The effective interest method will be utilized to determine interest expense and amortization. 7 Received payment from Stinger Sales Company for the balance due on account, less a 1% cash discount. 7 Received payment from Flatwood Enterprises for the balance due on acount, less a 1% cash discount. for the balance due on account. No discount from Stanley Manufacturing Company. The merchandise failed to meet specifications for was taken. high quality 1 Sales salaries and office salaries totaled $14,000 and $9,000 respectively for this two-week pe- riod. Only $1,400 of the sales salaries and $900 of the office salaries relate to July. (lgnore 7 Purchased $1,500 of store supplies and $700 of office supplies from Walsh Basiness Systems terms n/10, e.o.m payroll taxes and deductions.) 7 Construction costs for major renovation and expansion projects completed on this date to- taled $1.6 million. Ross Engineering and Con- struction Associates were paid the full balanee 1 Purchased from Stanley Manufacturing Com- pany $100,000 of merchandise, terms 2/10, n/30, FOB shipping point. duc. An analyis of the oupenditurs revaled 1 Collected $12,000 for rent to be earned over the next 12-month period from July 1, 1990 to that $400,000 related to land acqusition and preparation and $1,200,000 related to buildings June 30, 1991. 7 Purchased 3 new delivery trucks for $45,000 5 Purchased $700 of store supplies and $300 of office supplies from Cook Supply Company, cash. 8 Paid McBride Manufacturing Company the terms n/10, e.o.m. balance due, less a 2% discount. 5 Paid $2,400 rent for July for temporary storage space at U-Store-It. (Two-thirds relates to sell- 8 Cash sales for the week were $65,000, credit ing, one-third to general operations.) sales were as follows May's Professional Sports Equip.. $18,000 Dragon Recreation Center 5 Received an invoice for insurance coverage for 16,000 13,000 Jogging Supplies All credit sales are made with terms 1/10, Home and Farm Insurance. s Paid $750 to the Southeast Daily for adver- creation Center tisements to run in July and August. ancy between merchandise ordered, for which they were billed, and merchandise received. A credit memorandum was prepared to grant a $300 sales allowance to them. Pal 0vS tderision station for advertisements to run in August and Septem- credit memorandum was prepared to grant a 300 sales allowance to them. cost $7,500 with a book value of $5,625 to Jones Antique Purniture Mart. 11 Mailed a check to Stanley Manufacturing Company for the balance due, less the cash 19 Sold for $3,000 cash equipement that originally cost $5,000 with a book value of $3,109 to Winter's Used Furnlture. 12 Manuel Jogsing Supplies returned $200 of merchandise purchased June 8. A credit mem- 19 Paid Catlip, Decon, and Koch Associates orandum was prepared $2,000 for July legal fccs 13 Purchased $4,500 merchandise from Lawiess Consolidated for cash. United Electric. A check was prepared for 14 Received payment from May's Professional Sports Equipment for the balance due, less the cash discount. 22 Dividends of $.60 per share were declared on this date to be paid on August 20 to stock- holders of recoed as of July 29. 14 Paid Thomas Corporation the balance due, less the cash discount. 22 Cash sales for this weck totaled $52,000 credit sales were as follows: Monday's Sports Shop Reily's University Sports Connection 20,000 IS Paid the notes payable issued on June 15 for $12,000, plus one month's interest at 8%. 15 Sales Salaries and Office Salaries totaled $18,000 and $10,000 respectively for this two week pay period. Payroll checks were pre- pared. (gnore payroll taxes and deductions.) 25 Received payment in full from A. J. Camper Company, less the cash discount. 26 Purchased $60,000 of merchandise from King's Sports Products with terms 3/10, 15 Paid Fine Products the balance due. No dis- count was taken. 29 Cash sales for the week totaled $63,000; credit sales were as follows: 15 Received payment from Dragon Recreation Bird's Toy Center Highland and Son's Retalling...11,500 Center for the balance due, less the cash 29 Sales salaries and office salaries totaled 15 Cash sales for the week totaled $48,000; credit $26,000 18 Paid Donaldson's Certified Professional Serv $21,000 and $10,000 respectively for this two- sales were as follows: Ignore payroll taxes and deductions.) A.J. Camper Company Stinger Sales Company 18,000 29 Temporary investments were purchased for $10,000 cash. ices $500 for temporary secretarial office help for July 11-15. (Charge to Miscellaneous Of fice Expense). 29 Received $2,250 of interest on the marketable securities. Only $563 of the interest was earned during July. 18 Sold for $6,500 cash equipment that originally