Directions: Assume Rocky Ram uses a perpetual inventory system. 1. Prepare the journal entries (if needed) to record the December 2013 transactions found on Page 3. 2. After completing Step 1, post these entries to the general ledger. 3. Prepare an unadjusted trial balance. Total debits must equal total credits.

1 On December 1, Rocky Ram, Inc. received $ 1 7 ,000 from Kanga Roo Inc. for partial payment of account. (First entry journalized and posted for you.)

2 On December 1, Rocky Ram, Inc. received $ 9 ,000 in advance for renting office space to Bullwinkle, Inc. for the December 1, 201 5 through February 2 8 , 201 6 .

3 On December 6, Rocky Ram, Inc. issued checks to Acne Corporation for $1 2 ,000, Bow & Arrow, Inc. for $ 8 ,000, and Boa Construction Inc. for $1 5 ,000 in payment on accounts.

4 On December 10, the company purchased supplies in the amount of $ 4 ,000 on account from Boa Construction Inc. ( FOB Shipping Point , terms n/10, n/30), order shipped in December.

5 On December 10, Rocky Ram, Inc. received a check in the amount of $30,000 fro m Poodle & Co. in payment of account.

6 On December 15, Rocky Ram, Inc. made a sale in the amount of $8 0,000 to Poodle & Co (terms 2/10, n/30). The cost of the inventory sold was $ 5 5 ,000.

7 On December 17 , Board of Directors declared $ 8,20 0 in dividends to b e paid in January .

8 On December 20, the company paid employees $ 31 ,000 for wages earned during the period from December 1 through December 15, 201 5 .

9 On December 25, received full payment from Poodle & Co. for sale made December 15 (J6) , within the discoun t period.

10 On December 25, Rocky Ram, Inc. made a sale in the amount of $14 0,000 to Bulldog Inc. (terms 2/10, n/30). The cost of the inventory sold was $90,000.

11 On December 28, Bulldog Inc. returned goods purchased on December 25, in the amount of $1 4 ,00 0. The cost of inventory was $9,000.

12 On December 28, Rocky Ram, Inc. ordered inventory from Bow & Arrow , Inc. in the amount of $5 0,000 ( FOB Destination , terms 2/10, n/30) , inventory is expected to arrive sometime in January .

13 On December 31, the company p urchased office equipment costing $60,000. They paid $15,000 down on the equipment and signed a promissory note for the remaining balance. The note is due March 31, 201 6 .

14 On December 31, Rocky Ram, Inc. paid utility bills totaling $1 0 ,000 for utilities used during the month of December.