JUST NEED FIRST TWO ROWS OF TRIAL BALANCE COMPLETE. HAVE THE CORRECT JOURNAL ENTRIES
ACC 311 SPRING 2023 Cycle Problem Transactions The following transactions took place during the month of December, 2022 : 1 Paid $7,500 to cover rent for December, January, February, and March. 2 Paid an annual premium of $8,400 for business insurance. 3. Received $16,500 from a customer to satisfy a balance from sales in September. 3 Paid $28,500 for display cases and other store fixtures. 5 Borrowed $20,000 from the bank, signing a 3-year, 5.3\% promissory note. 7 Purchased $48,000 of merchandise from Gilbert Company with terms 2/10, n/30. 9 Purchased merchandise for $28,000 cash. 10 Returned damaged merchandise to Gilbert Company; received credit for $17,000. 10 Investors paid a total of $30,000 to purchase 20,000 shares of the company's $.80 par value common stock. 10 Sold merchandise to R.J. Anderson on account, $28,000 with terms 2/10, net/30. 12 Received and paid telephone bill in the amount of $425 for December service. 13 Completed a $9,700 credit sale to Ben Jackson with terms 1/10, n/30. 14 Paid the balance due to Gilbert Company. 15 Received $2,000 of merchandise retumed by Ben Jackson. 16 Purchased $18,000 of merchandise from Leo Company with terms 1/10,n/30. 17 A company that owed us $1,100 filed bankruptcy. The account was written off. 19 Bought $580 of supplies on account. 20 Sold merchandise on account to Martha Conner for $26,000, terms 2/15, n/30. 20 Received payment in full from Ben Jackson. 24 Received a $385 bill for electricity used in December. 28 Received a check from R.J. Anderson for payment in full 28 Recorded cash sales for December totaling $39,650. 29 Paid half of the amount owed to Leo Company. 31 Improve It declared and paid a \$.13 per share cash dividend. (One simple entry) ACC 311 SPRING 2023 Cycle Problem Transactions The following transactions took place during the month of December, 2022 : 1 Paid $7,500 to cover rent for December, January, February, and March. 2 Paid an annual premium of $8,400 for business insurance. 3. Received $16,500 from a customer to satisfy a balance from sales in September. 3 Paid $28,500 for display cases and other store fixtures. 5 Borrowed $20,000 from the bank, signing a 3-year, 5.3\% promissory note. 7 Purchased $48,000 of merchandise from Gilbert Company with terms 2/10, n/30. 9 Purchased merchandise for $28,000 cash. 10 Returned damaged merchandise to Gilbert Company; received credit for $17,000. 10 Investors paid a total of $30,000 to purchase 20,000 shares of the company's $.80 par value common stock. 10 Sold merchandise to R.J. Anderson on account, $28,000 with terms 2/10, net/30. 12 Received and paid telephone bill in the amount of $425 for December service. 13 Completed a $9,700 credit sale to Ben Jackson with terms 1/10, n/30. 14 Paid the balance due to Gilbert Company. 15 Received $2,000 of merchandise retumed by Ben Jackson. 16 Purchased $18,000 of merchandise from Leo Company with terms 1/10,n/30. 17 A company that owed us $1,100 filed bankruptcy. The account was written off. 19 Bought $580 of supplies on account. 20 Sold merchandise on account to Martha Conner for $26,000, terms 2/15, n/30. 20 Received payment in full from Ben Jackson. 24 Received a $385 bill for electricity used in December. 28 Received a check from R.J. Anderson for payment in full 28 Recorded cash sales for December totaling $39,650. 29 Paid half of the amount owed to Leo Company. 31 Improve It declared and paid a \$.13 per share cash dividend. (One simple entry)
