CON9-1 (Static) Recording and Reporting Liabilities Pool Corporation, Inc., is the world's largest wholesale distributor of swimming pool supplies and equipment. It is a publicly traded corporation that trades on the NASDAQ exchange. The majority of Pool's customers are small, family-owned businesses. Assume that Pool Corporation completed the following transactions during the current year. Sept.15 Purchased and paid for nerchandise for resale. The invoice amount was $125,000. Assume Pool uses a periodic inventory systen. oet. 1 Borrowed $900,000 fron Southwest Bank for qeneral use; signed an 11-month, 51 annual interest-bearing note for the money. oct. 5 Received a $40,000 cuntoner deposit from Joe Lipsconb for services to be performed in the future. oet.15 Perforsed $18,000 of the nervices paid for by Mr. Lipscomb. Dec. 12 Received electrie b111 for $12,000. Pool plans to pay the bill in early January. 31 Determined wages of $52,000 earned but not yot pafd on Decenbor 31 (disregard payroll taxes), Required: 1.\&2. Prepare journal entries for each of these transactions and all adjusting entries required on December 31 . (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 34567 Purchased and paid for merchandise for resale. The invoice amount was $125,000. Assume Pool uses a periodic inventory system. Note: Enter debits before credits. for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 567 Borrowed $900,000 from Southwest Bank for general use; signed an 11month, 5% annual interest-bearing note for the money. Note: Enter debits before credits. for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 677 Received a $40,000 customer deposit from Joe Lipscomb for services to be performed in the future. Notes Enter debits before credits. for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet