Journal transactions into General journal

EX.

Debits and credits

[Your name] Merchandising Company buys and sells a product called Zoom. The company is subject to a 25% income tax rate. The account balances as of Jan. 1,2022, the start of the year, were as follows: Merchandise inventory as of Jan 1st consisted of 3,500 units. Company uses Perpetual Inventory System using LIFO. The following transactions took place during 2022 . 21. Declared and paid $55,000 cash dividends to preferred stockholders and common stockholders. 22. Made the 2nd semiannual interest payment on bonds issued above. 23. Made the 2nd monthly payment on purchase of the truck in the above. 24. Made the 2nd payment on leasing the production machine in the above. 25. Made the monthly pension deposit regarding the new employee (Jane) with bank. Jane's salary when hired was $30,000. She is entitled to retirement benefits after working for 20 years at the start of the 21st year. The retirement plan will last for 25 years. Per company practices, Jane is to be granted with a year-end salary increase of 3% per year effective Jan. 1it of each year that he works. The amount of annual retirement benefit is going to be 55% of Jane's salary right before the start of the retirement and is to be paid at the start of each month. Any invested funds for pension will earn 5% compounded annually. Company is accumulating the necessary funds for Jane's retirement benefits through equal monthly deposits at the end of each month while she is working (20 years)