Chart of Accounts Labels and Amount Descriptions Journal Bank Reconciliation Instructions Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 20Y8, were as follows: Jan. 3 Issued a check to establish a petty cash fund of $4,500. Feb. 26 Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1,680; miscellaneous selling expense, $570; miscellaneous administrative expense, S880. Apr. 14 Purchased $31,300 of merchandise on account, terms, n/30. The perpetual inventory system is used to account for inventory Paid the invoice of April 14. Received cash from daily cash sales for $21,200. The amount indicated by the cash register was $21,240 May 13 17 Jun, 2 Received a 60-day, 8% note for $180,000 on the Ryanair account. Received amount owed on June 2 note, plus interest at the maturity date. Assume a 360-day year 24 Aug. Received $7,600 on the Finley account and wrote off the remainder owed on a $9,000 accounts receivable balance. (The allowance method is used in accounting for uncolectible receivables.) Reinstated the Finley account written off on August 24 and received $1,400 cash in full payment (Record as two entries.) Sep. 15 Record the folowing on journal page 22 Sep. 15 Purchased land by issuing a S670.000, 90-day note to Zahorik Co., which discounted it at 9%. Assume a 360-day year Sold office equipment in exchange for $135,000 cash plus receipt of a $100,000, 90-day, 9% note. The equipment had a cost of $320,000 and accumulated depreciation of $64,000 as of October 17 Journalized the monthly payroll for November, based on the following data: Oct. 17 Nov. 30