Debit and Credit all transactions:

1/8 Indiana pays off $30,000 of accounts payable

1/12 Indiana buys 300 units of inventory at a cost of $82/unit on credit, terms net/60.

1/19 Indiana sells 320 units to Belloq, Inc. for $290 each on credit, terms 2/15, net 45.

1/21 Indiana pays the salaries payable balance from the beginning of the year, $10,000.

1/31 Indiana collects the A/R owed by Lao Che from the beginning of the year in full, $15,000.

2/7 Indiana buys $3,000 of office supplies in cash.

2/15 Indiana pays off $30,000 of accounts payable.

2/18 Indiana collects the amount owed from Belloq, Inc from the 1/19 sale outside the discount period.

2/27 Indiana provides the services owed to a client. The client paid $50,000 in advance last year. 3/4 Indiana pays off the 1/12 purchase.

3/8 Indiana writes of the Temple of Doom A/R balance as uncollectible (see instructions)

3/14 Indiana collects the A/R owed by Ark of the Covenant Inc. and Asp Co. $21,500

3/24 Indiana buys 350 units of inventory at a cost of $85/unit on credit, terms net/60.

4/1 Indiana sells 280 units to Elsa Schneider, Ltd. For $300 each on credit, terms 2/15, net/45.

4/8 Indiana grants Elsa Schneider, Ltd. an allowance of $300 for damaged goods.

4/12 Indiana collects the A/R owed by Elsa Schneider, Ltd. within the discount period.

4/25 Indiana pays for online advertising in the amount of $4,000.

5/1 Indiana buys a short-term investment for $20,000. 5/8 Indiana pays off the 3/24 purchase.

5/15 Indiana buys 275 units of inventory at a cost of $87/unit on credit, terms net/60.

5/27 Indiana pays the income taxes payable amount from the beginning of the year balance.

6/3 Indiana pays the dividends payable amount from the beginning of the year balance.

6/27 Indiana buys 150 units of inventory at a cost of $90/unit on credit, terms net/60

7/3 Indiana sells 220 units to Brody Curators, Inc. for $305 each on credit, terms 2/15, net/45.

7/10 Indiana pays off the 5/15 purchase.

7/17 Indiana collects the A/R owed by Brody Curators, Inc. within the discount period.

7/27 Indiana pays $5,000 of the interest payable it owes.

8/9 Indiana pays for postage, shipping costs, and other miscellaneous items (total of $1,000).

8/24 Indiana sells 130 units to Katanga Shipping for $305 each for cash.

8/27 Indiana pays off the 6/27 purchase.

9/1 Indiana buys 300 units of inventory at a cost of $93/unit on credit, terms net/60.

9/12 Indiana buys $500 of office supplies on credit, terms net/60.

9/21 Indiana sells 250 units to Sallah Excavating, Inc. for $310 each on credit, terms 2/15, net/45.

10/4 Indiana sells 50 units to Ravenwood, LLC for $310 each for cash.

10/15 Indiana collects the A/R owed by Sallah Excavating, Inc. outside the discount period.

10/31 Indiana pays off the 9/1 purchase.

11/9 Indiana pays off the 9/12 purchase.

11/19 Indiana pays for online advertising in the amount of $8,000.

11/27 Indiana buys 175 units of inventory at a cost of $97/unit on credit, terms net/60.

12/4 Indiana sells 100 units to Jock Lindsay for $315 each on credit, terms 2/15, net/45.

12/12 Indiana pays Toht, Dietrich, and Gobler GmbH for miscellaneous expenses for $2,000.

12/16 Indiana collects the A/R owed by Jock Lindsay within the discount period.

12/29 Indiana declares a dividend of $10,000 to be paid next year.

12/31 Indiana provides services to Mola Ram Co. for $50,000 on credit, terms 2/15, net/45 12/31 Indiana collection $8,000 from Brody Curators, Inc. for services to be provided next year.