Create a general journal, general ledger, and trial balance using the given transactions.

Our Favorite Store's activities for 2021 Summary Transactions for 2021 1 Purchased inventory on account for $180,000. 2 Sold goods for cash $40,000; the cost of goods sold was $15,000. 3 Sold goods on account for $425,000(2/10,n/30); the cost of goods sold was $160,000. 4 Sales returns were $6,000, and had a cost of $2,250. 5 Collected $375,000 of accounts receivable within the discount period. The gross method is used. 6 Purchased supplies on account $1,500, debit supplies. 7 Paid $140,000 of accounts payable - this includes supplies and inventory. Paid the principal balance on the note payable plus interest of $1,500. The balance in interest payable is included as part of this interest payment. Paid salaries of $37,500, this includes the beginning balance in salaries payable, which represents the 9 salaries owed on December 31 of last year. 10 Paid 12 -months rent in advance on September 1, 2021 of $12,000, debit pre-paid rent. 11 Purchased equipment for $60,000 on June 1,2021 by giving a 9-month, 6% note for $60,000. 12 Paid $1,400 for maintenance and repairs. 13 Sold common stock (on January 1 ), 10,000 shares for $15 per share. The par value is $5 per share. 14 Sold preferred stock, 3,000 shares for $25 per share. The par value is $25 per share. 15 Paid utilities of $2,300. 16 Declared and paid cash dividends to common shareholders, $10,000. 17 Declared and paid cash dividends to preferred shareholders, $3,000. 18 Wrote off $1,500 of uncollectible accounts receivable. 19 Sold equipment having an original cost of $50,000, and accumulated depreciation of $22,000 for $25,000 cash