Journal entry worksheet

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Credit sales for the year amounted to $$312,000.$

Note: Enter debits before credits.Summarized here are the transactions$/$events that took place during the fiscal year ended September $30,2023.$ Prepare journal entries for the below transactions.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

$1.$ Credit sales for the year amounted to $$312,000.$ The cost of goods sold was $$202,800.$

$2.$ Collected accounts receivable, $$327,600.$

$3.$ Purchased inventory on account, $$218,400.$

$4.$ Issued $650$ shares of common stock for $$23$ per share.

$5.$ Wrote off $$9,100$ of uncollectible accounts using the allowance for bad debts.

$6.$ Declared and paid a cash dividend, $$26,000.$

$7.$ Sold marketable securities costing $$33,800$ for $$40,300$ in cash.

$8.$ Recorded insurance expense for the year, $$15,600.$ The premium for the policy was paid in June $2022.$

$9.$ Borrowed cash on a short$-$term bank loan, $$13,000.$

$10.$ Repaid principal of $$52,000$ and interest of $$3,900$ on a long$-$term bank loan.