Dec. 1. Paid $7500 to cover rent for December, January, February, and March.

2. Paid an annual premium of $8400 for business insurance.

3. Received $16500 from a customer to satisfy a balance from sales in September.

3. Paid $28500 for display cases and other store fixtures.

5. Borrowed $20000 from the bank, signing a 3-year, 6.9% promissory note.

7. Purchased $48000 of merchandise from Gilbert Company with terms 2/10, n/30.

9. Purchased merchandise for $23000 cash.

10. Returned damaged merchandise to Gilbert Company; received credit for $17,000.

10. Investors paid a total of $30,000 to purchase 20,000 shares of the company's $.08 par value common stock.

10. Sold merchandise to R.J. Anderson onaccount, 28000 with terms 2/10, net/30.

12. Received and paid telephone bill in the amount of $ 425 for December service.

13. Completed a $9700 credit sale to Ben Jackson with terms 1/10, n/30.

14. Paid the balance due to Gilbert Company.

15. Received $2000 of merchandise returned by Ben Jackson.

16. Purchased $18000 of merchandise from Leo Company with terms 1/10, n/30.

17. A company that owed us $1100 filed bankruptcy. The account was written off.

19. Bought $530 of supplies on account.

20. Sold merchandise on account to Martha Conner for $26000, terms 2/15, n/30.

20. Received payment in full from Ben Jackson.

24. Received a $385 bill for electricity used in December.

28. Received a check from R.J. Anderson for payment in full.

28. Recorded cash sales for December totaling $39,650.

29. Paid half of the amount owed to Leo Company.

1. how to do the adjusting entry? And judge which one is reversible? Post the adjusting entries to the general ledger. Enter adjusting entries on the worksheet & complete the adjusted trial balance on the worksheet.