GIVE JOURNAL ENTRIES FOR FOLLOWING:

. Purchased $95,000 of equipment $15,000 cash downpayment and the rest with a note. The equipemnt has ten-year useful life and a salvage value of $4,000. All principal and interest on the note is due in three years.

b. Sold for immediate cash payment $45,000 of merchandise that cost $22,000.

c. Accepted credit cards as payment for $250,000 of services (no cost of goods sold) rendered to its customers. The credit card fee is 4.5%.

d. Sold on account for $250,000 of merchandise that cost $115,000 (no discounts for early payment).

e. Collected $185,000 of its Accounts Receivables.

f. Paid $14,750 in salary expense for the current period.

g. Wrote off a customer's $13,750 account receivable that was deemed to be uncollectible.

h. Recorded $8,000 for rent expense for this period that will be paid next month.

i. Recorded the months entry for depreciation using the straight line method.

j. Recorded the months entry for bad debt. They estimated that 6% of the credit sales will not be collected.