Chart of Accounts Journal Instructions Quan Corp. manufactures construction equipment. Feb. 2 Purchased for cash 3,100 shares of Celeste Inc.'s common stock for $32 per share plus a $124 brokerage commission. Celeste Inc. has 80,000 shares of common stock outstanding Mar 6 Received dividends of $0.45 per share on Celeste Inc. stock. June 7 July 26 Sept 25 Dec. 31 Purchased 1,400 shares of Celeste Inc. stock for $38 per share plus a $56 brokerage commission. Sold 4,000 shares of Celeste Inc. stock for $41 per share less a $100 brokerage commission. Quan assumes that the first investments purchased are the first investments sold. Received dividends of $0.62 per share on Celeste Inc. stock. At the end of the accounting period, the fair value of the remaining 500 shares of Celeste Inc. stock was $20,720 Chart of Accounts Quan Corp. General Ledger ASSETS 110 Cash 111 Petty Cash 120 Accounts Receivable 121 Allowance for Doubtful Accounts 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance REVENUE 410 Sales 611 Interest Revenue 612 Dividend Revenue 621 Income of Celeste Inc. 631 Gain on Sale of Investments 641 Unrealized Gain on Equity Investments EXPENSES 511 Cost of Merchandise Sold 512 Bad Debt Expense Previous Next Instructions Chart of Accounts 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies 151 Prepaid Insurance 161 Investments-Celeste Inc. Stock 165 Valuation Allowance for Equity Investments 166 Valuation Allowance for Available-for-Sale Investments 181 Land 191 Store Equipment EXPENSES 511 Cost of Merchandise Sold 512 Bad Debt Expense 515 Credit Card Expense 516 Cash Short and Over 520 Salaries Expense 531 Advertising Expense- 532 Delivery Expense V 192 Accumulated Depreciation-Store Equipment 193 Office Equipment 533 Repairs Expense 194 Accumulated Depreciation-Office Equipment LIABILITIES 330 Account Dashin 534 Selling Expenses 535 Rent Expense 536 Insurance Expense 537 Office Supplies Expense 20 Stan Sunnion Eve instructions Chart of Accounts 210 Accounts Payable 221 Notes Payable 231 Interest Payable 241 Salaries Payable 251 Sales Tax Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Treasury Stock 332 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 350 Unrealized Gain 1 oss) on Available-for-Sale Investments, 538 Store Supplies Expense 561 Depreciation Expense-Store Equipment 562 Depreciation Expense-Office Equipment 590 Miscellaneous Expense 710 Interest Expense 721 Loss of Celeste Inc. 731 Loss on Sale of Investments 741 Unrealized Loss on Equity Investments Chart of Accounts 251 Sales Tax Payable EQUITY 311 Common Stock 312 Paid-In Capital in Excess of Par-Common Stock 321 Preferred Stock 322 Paid-In Capital in Excess of Par-Preferred Stock 331 Treasury Stock 332 Paid-In Capital from Sale of Treasury Stock 340 Retained Earnings 350 Unrealized Gain (Loss) on Available-for-Sale Investments 351 Cash Dividends 352 Stock Dividends 710 Interest Expense 721 Loss of Celeste Inc. 731 Loss on Sale of Investments 741 Unrealized Loss on Equity Investments Chart of Accounts Journal Journalize the entries to record the transactions. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals d explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a c your intermediate calculations to two decimal places. When required, round final answers to the nearest dollar. 2 5 JOURNAL DATE DESCRIPTION POST REF. DEBIT CREDIT ASSE