JOURNAL ENTRY REQUIRED December 31 -Received a cheque from La Plume du Nord Inc. for $9 800.00, as partial payment of invoice no. 1015, less the 2% discount. December 31- Issued cheque no. 429 to the National Bank to pay the monthly interest on the December 3 loan, as well as $1 666 of the principal. Calculate one whole month's interest. December 31 -Issued cheque no. 430 to Omer Cantil in the amount of $20 400.00 for the purchase of bonds issued by Mines d'or Klondike. The bonds provide 16% annual interest rate paid semiannually every June 30 and December 31. Include the whole amount of the cheque as the investment. December 31 Received a bill from Hydro-Quebec for $660.00 plus the appropriate taxes. The bill covers the period beginning October 1 and ending November 30. Date: December 28. Terms: n30. December 31 Received the November telephone bill from Bell Canada for $320.00 plus the appropriate taxes. Date: December 28th. December 31 Issued cheque no. 431 for $250.00 plus the appropriate taxes to Exact Ltd. for bookkeeping services received in December. December 31 Issued cheque no. 432 to the Receiver General of Canada for the monthly payment of taxes on the company's 20X4 income. Payment was based on last year's income and the amount of the cheque was $1 440.00. These payments are made in advance and are normally recorded as a debit to income tax payable, even though the actual amount payable will not be known until the end of the year.

December 31 Issued cheque no. 434, for the amount of $307.69 tax included, payable to Cline Lafrance, petty cash cashier. She presents the following receipts and uses the proceeds of the cheque to reimburse the fund:

Rapidex Courier Service $28.49

Taxi fare for Salesmen

(Traveling Expense) 85.47

Federal Express Courrier service 136.75

Parking for Mr. Rne Trudeau

(Travelling Expense) 56.98

December 31 Issued cheque no. 435 payable to Quebec Trust Co. in the amount of $99,450 in payment of a note payable signed in 20X3 plus accrued interest since that date.