On August $1,2016,$ Stephanie Ram, a sole proprietor, started a new business, Ram Wholesale Company. The company sells refrigerators $($merchandise$)$ to various retail stores and uses the periodic inventory system. At the end of August, the company's Post$-$Closing Trial Balance showed the following accounts and balances:

Ram Wholesale Company

Post$-$Closing Trial Balance

August $31,2016$

Account Titles Debit

Credit

Cash $$153,300$

Accounts Receivable $15,400$

Merchandise Inventory, $9/30/1556,700$

Store Supplies $3,800$

Office Supplies $2,800$

Land $38,000$

Delivery Truck $90,000$

Accumulated Depreciation, Delivery Truck $$850$

Accounts Payable $20,700$

Unearned Sales Revenue $2,500$

Notes Payable $($Due $2040)59,000$

Stephanie Ram, Capital $276,950$

Totals $$360,000$

$$360,000$

Subsidiary Ledgers balances during the month of August

Customers with Outstanding Balances

Dates Customer Names Credit Terms Balances

$8/25$ Jose Mendes $3/20,$ N$/60$ $$9,600$

$8/28$ Nicholas Jay $2/15,$ N$/455,800$

Totals $$15,400$

Creditors with Outstanding Balances

Dates Creditors Names Credit Terms Balances

$8/22$ Lisa Supplies Company $1/10,$ N$/60$ $$8,100$

$8/24$ Farge Company $2/15,$ N$/459,100$

$8/26$ Mason Retailers $1/20,$ N$/603,500$

Totals $$20,700$

During the month of September, the following transactions were completed by the business:

Sept. $1$ Stephanie Ram, the proprietor of the business, invested $$87,100$ cash and Office

Supplies valued at $$2,100$ into the business.

$2$ Issued a check to establish a Petty Cash Fund for $$5,000$

$3$ Paid a premium of $$3,500$ for a one$-$year insurance policy, effective September $1$st

$6$ Purchased $39$ refrigerators on credit for $$163,800$ from Mason Retailers. The credit terms of the sale were $4/20,$ n$/45,$ F$.$O$.$B$.$ shipping point.

$8$ Issued a check for $$1,850$ for the delivery charges on the September $6$th transaction.

$9$

The business returned two damaged refrigerators to Mason Retailers and received a credit of $$9,000.$

$10$

Sold several refrigerators to various customers with the credit terms $3/10,$ n$/60$ and bills were sent out as follows:

Jose Mendes $$6,000$

Amy Thomas $10,700$

Nicholas Jay $5,000$

Dora Franklin $12,900$

Totals $$34,600$

$12$ Borrowed $$61,500$ from National Trust Bank by signing a Notes Payable.

$13$ Dora Franklin returned a defective refrigerator to the business and received a credit of $$4,500.$

$14$ Issued a check to pay the bi$-$weekly employee salaries, $$15,400.$

$15$ Purchased Store Supplies on credit, terms $2/10,$ n$/30,$ as follows:

Wiley Retailers

Lisa Supplies Company

Farge Company

Lincoln Wholesale

Totals

$$2,000$

$1,500$

$700$

$2,700$

Totals

$$6,900$

$17$ Purchased a Delivery Truck for $$62,000$ in cash.

$20$ Received payment $($before any applicable discounts$)$ from the following customers for the September $10$th sale to be applied to their accounts as follows $($Hint: You will need to calculate amount of net cash received from customers$)$:

Jose Mendes $$2,900$

Amy Thomas $5,600$

Nicholas Jay $4,300$

Dora Franklin $8,200$

Totals

$$21,000$

$21$ Received cash of $$23,000$ in advance for $5$ refrigerators to be delivered over the next few months.

$22$ Made a partial payment for the Store Supplies purchased on September $15$th to be applied to the below accounts $($before any applicable discounts$)$ as follows $($Hint: You will need to calculate amount of the net cash payment$)$:

Wiley Retailers

$$1,700$

Lisa Supplies Company

$3,200$

Farge Company

$600$

Lincoln Wholesale

$900$

Totals

$$6,400$

$23$ Stephanie Ram withdrew $$4,200$ in cash for her personal use.

$24$ Sold several refrigerators and received $$205,000$ cash.

$25$ Made a partial payment to Mason Retailers of $$93,000$ to be applied as a reduction to the account balance $($before any applicable discounts$)$ for the September $6$th transaction $($Hint:You will need to calculate amount of the net cash payment$).$

$26$ Paid the monthly utility bills, $$7,900.$

$27$ Stephanie Ram purchased a Forklift for $$31,900.$

$28$ Issued a check to pay the bi$-$weekly employee salaries, $$15,400.$

$29$ The Petty Cash Fund had a cash balance of $$3,500$ at the end of September with petty cash receipts$/$vouchers for postage, $$460,$ and repair supplies, $$940.$ A check was issued to replenish the fund.

$30$ Issued a check for the payment of Septembers rent $$14,000.$

Prepare the Journal Entries in the General Journal. $($Credit account titles are automatically indented when the amount is $e$

General Journal: