JOURNAL ENTRIES FOR JUNE 23 

June 23

Accessories were purchased on account from Clear Water, Incorporated. The accessories list for $540.00, are recorded net, and credit terms of 2/10, n/30 are extended by Clear Water, Incorporated. No freight charges were incurred for this shipment. Invoice Number: C5217. Vendor Number: 22400.

Merchandise listed on the purchase invoice:

Stock Number	Item	Quantity	Net Cost Per Unit
C0400	STAINLESS IMP. 1100	6	$88

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June 23 A certified check for $5,080.00 was received from Arlene Baxter as payment to cover her NSF check. On June 15, the check for $5,000.00 plus an $80.00 handling fee was charged back to Ms. Baxters account. Invoice Number: BADCK (for bad check). Customer Number: 10300.

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June 23 Store supplies purchased on account for a total of $38.90 on June 22 were returned to Anderson Supply. Invoice Number: A5049.

************************************************************************************************* June 23 Sold used shop equipment (metal lathe) for $320.00. The equipment was purchased at a total cost of $2,200.00 early in 2009. Using units of production depreciation, the accumulated depreciation account balance at the end of the first quarter (March 31) totals $1,830.00 Depreciation is recorded at the rate of $1.00 for each hour of operation. Through June 23 of this quarter, an additional 260 hours of operation have accumulated on the lathes meter.

(1) Record the depreciation. Invoice Number: DEPRE (for depreciation).

(2) Record the sale of the asset. Invoice Number: ASALE (for asset sale).