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December 1 : Pane puchases a piece of machinery with cash that will assist in making T - Panes cost of machinery $ 8

December 1: Pane puchases a piece of machinery with cash that will assist in making "T-Panes"
cost of machinery $890,000
installation fees $4,250
transportation costs $1030
December 10: Pane collects a portion of their accounts receivable
amount collected $43,758,000
December 18: Pane sold a piece of their equipment for $10,000 in exchange for cash.
sale price $10,000
Equipment Historical Cost $55,000
Accumulated Depreciation for this equipment $38,000
December 31: Pane paid the IRS their 2023 income tax.
Income Tax Paid $2,000,000
The payroll information for the year is shown below. All salaries and wages were previously paid for in cash, however this activity has not been recorded on Pane's books.
Number of Employees 200
Employee payment (daily) $175
Days worked in the current year 250
On December 31, Pane was notified that their one of their customers filed bankruptcy and would not be able to pay off their $3,000 account receivable.
On December 31, Pane paid cash dividends of $8,000 to its shareholders.
prepare journal entries for each of these transactions please

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