Journalize these business events: On March 1, Jones Corporation consolidates operations by closing a factory. The plant and equipment is impaired by $750,000.

b. 200 employees will be terminated because of the plant closing. The will be a termination benefit of $5000 per employee. Employees can work up to 60 days beyond March 1, but can leave earlier.

c.Twenty five employees find employment elsewhere and leave the company on March 25. Payment is made to these employees on that date.