P7-25A Using the purchases, cash payments, and general journals The general ledger of Shiny Lake Golf Shop includes the following selected accounts, along with their account numbers: Number Account Number Account 181 111 Cash Equipment 131 Merchandise Inventory 211 Accounts Payable 161 Prepaid Insurance 564 Rent Expense 171 Office Supplies 583 Utilities Expense Transactions in December that affected purchases and cash payments follow: Dec. 2 Purchased merchandise inventory on credit from Tighe, $4,100. Terms were 3/10, n/30. Purchased office supplies on credit terms of 3/10, n/30 from Rapid Supply, $470. Received and paid electricity utility bill, $510. Purchased equipment on account from A-1 Equipment, $6,900. Payment terms were net 30. 3 Paid monthly rent, debiting Rent Expense for $2,200. 5 8 9 10 11 12 13 14 Returned the equipment to A-1 Equipment. It was damaged. Paid Tighe the amount owed on the purchase of December 2. Purchased merchandise inventory on account from Crystal Golf, $4,900. Terms were 1/10, n/30. Purchased merchandise inventory for cash, $660. Paid a semiannual insurance premium, debiting Prepaid Insurance, $1,200.