E 13-8 The following selected transactions relate to liabilities of Interstate Farm Equipment Company for December Various 2021. Interstate's fiscal year ends on December 31. transactions Required: involving advance Prepare the appropriate journal entries for these transactions. collections 1. On December 15, received $7,500 from Bradley Farms toward the sale by Interstate of a $98,000 tractor to be LO13-3 delivered to Bradley on January 6,2022. 2. During December, received $25,500 of refundable deposits relating to containers used to transport equipment parts. 3. During December, credit sales totaled $800,000. The state sales tax rate is 5% and the local sales tax rate is 2%. (This is a summary journal entry for the many individual sales transactions for the period)