December Transactions 1 On December 1, sold 1,000 shares of common stock to Ethel Your Last Name for $15,000. The amount was deposited immediately. 2 On December 2, paid $8,700 for the next 12 months of insurance to ElA Insurance (Check 5000 3 On December 3, bought $3.500 of supplies from The Office Supply Store (Check #501) 4 on December 6, purchased 50 baseball bats from Baseball Supply on account. Invoice 95718, 50 each, Imusice total $2,000 5 On December 9, purchased furniture on account from The Office Supply Store for a total of $816. 6 on December 10, sold 10 baseball bats to Sam's Little League on account for $1,800, invoice 1. 7 On December 11, sold 7 baseball bats to Warrensburg High School on account for $1,250, Invoice 2. 8 On December 15, purchased 65 footballs from Football Supply on account. Invoice 59581, 530 each, invoice total $1,950. 9 On December 16, received checks from Sam's Little League and Warrensburg High School in full payment of their accounts. 10 On December 16, returned 5 footballs to Football Supply for a total credit of $150 CM1. 11 On December 19, sold 16 footballs to Warrensburg High School on account for 51,600, Invoice 3 12 On December 20, paid all outstanding vendor bills. Remember we returned footballs on December 16.) 13 on December 26, paid the utility bill, $100. The vendor name and information is up to you. (Check 5085) 14 On December 28, declared and paid a $10,500 cash dividend to the sole stockholder, Ethel Your Last Name. (Check #5086) Adjusting Entries 15 Supplies on hand at December 31 total $3,100. 16 One month of the insurance paid for on December 2 has been used. 17 Calculate one month of depreciation using straight-line for furniture with 4-year service life and no salvage value. 18 Calculate one year of depreciation for the equipment using straight-line with a 8 year service life and salvage value of $6,000 19 Record six months of interest expense for the $35,000, 6% Note Payable. 20 Wages of $6,600 will be paid on January 5, 2021 for work performed December 28, 2020 - Ianuary 2, 2021. Purchases Journal Credit Debit Vendor Invoice Number Account Name Amount Post Amount Post Account Name Date Vendor Sales Journal Credit Debit Invoice Number Account Name Amount Post Account Name Amount Post Date Customer Cash Receipts Journal Credit Debit Invoice Number Account Name Amount Post Amount Post Account Name Date Description Cash Disbursements Journal Credit Debit Check Number Account Name Amount Post Account Name Amount Post Date Description Post Debit Credit Date Account Titles and Explanation