Listed below are selected transactions of Pearl Furniture Store for the current year ending December 31. 1. On December 1, the store purchased for cash two delivery trucks for $71,000. The trucks were purchased in a state that applies a 6% sales tax. 2. 3. 4. On December 10, the store received $2,000 from the local community theatre as a deposit to be returned after certain furniture to be used in stage production was returned on January 15. During December, cash sales totaled $524,700, which includes the 6% sales tax that must be remitted to the state by the fifteenth day of the following month. The store determined it will cost $77,200 to restore the area (considered a land improvement) surrounding one of its parking lots, when the store is closed in 5 years. Pearl estimates the fair value of the obligation at December 31 is $62,600. Prepare all the journal entries necessary to record the transactions noted above as they occurred and any adjusting journal entries relative to the transactions that would be required to present fair financial statements at December 31. Date each entry. For simplicity, assume that adjusting entries are recorded only once a year on December 31. (Round answer to O decimal places, e.g. 5,125. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Dec. 1 Account Titles and Explanation Debit Credit Dec. 10 Dec. 1-31 Dec. 31