Following are selected account balances (in millions of dollars) from a recent UPS annual report, followed by several typical transactions. Assume that the following are account balances on December 31 (end of the prior fiscal year):

Account	Balance	Account	Balance
Property, plant, and equipment (net)	$15,494	Receivables	$1,949
Retained earnings	11,206	Other current assets	959
Accounts payable	1,417	Cash	1,044
Prepaid expenses	188	Spare parts, supplies, and fuel	557
Accrued expenses payable	2,230	Other non-current liabilities	3,530
Long-term notes payable	1,650	Other current liabilities	2,099
Other non-current assets	2,792	Additional Paid-in Capital	847
Common stock ($0.01 par value)	4

These accounts are not necessarily in good order and have normal debit or credit balances. (Note: Because these are not all of UPS's accounts, these will not balance in a trial balance.) Assume the following transactions (in millions, except for par value) occurred the next fiscal year beginning January 1 (the current year):

1. Provided delivery service to customers, who paid $5,390 in cash and owed $28,704 on account.
2. Purchased new PPE costing $3,594; signed a long-term note.
3. Paid $9,464 cash to rent equipment and aircraft, with $4,336 for rent this year and the rest for rent next year (a prepaid expense).
4. Spent $1,024 cash to repair facilities and equipment during the year.
5. Collected $29,085 from customers on account.
6. Repaid $230 on a long-term note (ignore interest).
7. Issued 200 million additional shares of $0.01 par value stock for $24 (thats $24 million).
8. Paid employees $11,276 for work during the year.
9. Purchased spare parts, supplies, and fuel for the aircraft and equipment for$8,964 cash.
10. Used $6,850 in spare parts, supplies, and fuel for the aircraft and equipment during the year.
11. Paid $944 on accounts payable.
12. Ordered $104 in spare parts and supplies.

Required:Prepare journal entries for each transaction.

1. Enter the ending balances from December 31 as the respective beginning balances for January 1 of the current year. Record in the T-accounts the effects of each transaction. Label each using the letter of the transaction.