Kindly check the following journal transactions:

1. Assume your company purchased a used truck for $12,000, with $3,000 paid by cash and $9,000 financed by a 5-year bank loan. How would you journalize this transaction?

• Debit: Vehicle $12000

Credit: Cash $3000

Credit: Long-term debt $9000

(to record the truck purchased by the company)

1. Assume your company sold all the above inventory purchased for $2,500, and allow the client 30 days to pay. How would you journalize this transaction?

• Debit: Accounts Receivable $2500

Credit: Inventory $2500

(to record the cost of goods sold)

2. Assume your company provided $1,000 worth of tech support services, and allow the client 30 days to pay. How would you journalize this transaction?

• Debit: Accounts Receivable $1000

Credit: Sales $1000

(to record the receipt of services rendered to a client)

3. Assume your company paid $500 to the tech support staff for their service. How would you journalize this transaction?

• Debit: Staff Expense $500

Credit: Cash $500

(to record the amount paid to tech support staff for their service)