On December 31, 20XX, the company has the following unrecord transactions:

1. Purchased merchandise inventory from Bryant Company for $25,000, paid by cash

2. Sold merchandise for cash $6,400. The merchandise sold had a cost of $4,100

3. Bought fixture and fittings on account from Kingston Equip Co, $1,500

4. Accrued salaries totaling $2,500

5. Terry took goods from inventory for his own use, costing $300

1. Journalize transactions
2. prepare income statement
3. prepare the balance sheet