Brett Ross operates Steph Manufacturing Company. During the fourth quarter of 2021, the following transactions were completed. Common shares authorized 50,000 and issued 4,000.

Oct 1: Issued 3,500 shares of $10 par value common stock for $11 per share.

Oct 2: Paid $2,450 for October rent.

Oct 8: Paid $750 cash on 6-month insurance policy effective October 1.

Oct 15: Purchased $7,650 of merchandise, terms 2/10, n/45

Oct 23: Sold $6,285 of merchandise, 2/20, n/30 to customers. The cost of the merchandise sold was $3,891.

Oct 24: Paid for the merchandise purchased on October 15th.

Oct 31: The bank printed checks for $155 and charged the corporation's checking account.

Nov 1: Purchased office supplies for $300, terms 1/10, n/30.

Nov 2: Paid $2,450 for November rent.

Nov 4: Granted $200 credit for merchandise returned from customers that were sold on October 23rd.The cost of the merchandise returned was $160.

Nov 5: Purchased a used truck for $15,000, paying $4,000 cash and the balance on a 36-month, 5% note.

Nov 9: Received payment from the sales transaction on October 23rd less return.

Nov 18: Sold a truck for $1,000 that was purchased in 2015 for $12,500. The truck was depreciated using the straight-line method over 4 years with salvage of $500.

Nov 27: Paid the amount owed on the office supplies.

Dec 1: Paid $2,450 for December rent.

Dec 6: Purchased 2,500 shares of treasury stock for $15 per share.

Dec 15: Declared a $2 per share cash dividend to stockholders of record on December 25th.

Dec 17: Purchased $4,380 of merchandise on account.

Dec 25: Date of record for December 15th dividend.

Dec 31: Paid the dividend declared on December 15th.

Journalize the following adjustments a the end of the year December 31st.

(1) The truck is depreciated using the straight-line method over 4 years with salvage of $3,000.

(2) Record the insurance expired.

(3) An inventory count shows $100 of office supplies on hand at December 31.

(4) 3% of receivables are estimated to be uncollectible.

(5) Interest on note (use a full month for month of purchase).

(6) Income tax expense equals $1,548 (use Accounts payable)