Financial Transactions: Journalize the following transactions that occurred during the year: January 1: Received $100,000 cash in exchange for common stock. January 1: Purchased a delivery truck for $36,000 by paying $6,000 in cash and signing a note for the remainder. July 1: Paid $12,000 for an annual insurance policy. December 31: Made sales of $500,000 on account. The Cost of Goods Sold was $300,000. December 31: Sold equipment with a cost of $20,000 and accumulated depreciation of $15,000. The company received $12,000 cash. 1 2 3 4 5 6 7 Date 8 9 10 11 12 13. 14 15 16 GENERAL JOURNAL Description Page Post Debit Credit 1 -23456789 10 11 12 13 23 14 15 16 567692 17 18 19 19 20 20 17 18