PART 2 Journal entry Questions. 81 and 12 are done for you as samples. Complete Questions thru 9. 1. Record the issuing of Property insurance invoice of $1,000 to Church A. Done as an example 2. Record the invoicing of the March teacher charge of $4,455 to School C Done as an example 3.Prepare the accounting entry to record the receipt of $1,000 of Rent. 4. Prepare the accounting entry to record the receipt of a $500 payment by church on their A/R 5. Prepare the accounting entry to record writing a check to the Electric Co. for $100 6. The cost of paying an employee is their wages plus 7.65% for Employer's Social Security Prepare the entry to record the cost of paying Employee Z $100. 7.Church is making payments on a loan to the conference. They make a payment of $202 of which $90 is interest and $112 is principal according to the amortization schedule. Record the receipt of this check 8.Schools are granted a $120 discount if they make their monthly teacher payment by the 20th of the month. The teacher payment is $4.455 per month. Record the receipt of the a payments of $4,335 by School C prior to the 20th of the month into its account receivable. 9.Conference policy is to grant a 2% discount if churches pay their property insurance invoice in full by March 31. Church A has benn invoiced for $1,000 for property insurance. They make a payment of $980 on March 22. Record the entry to record this payment and the discount. ASSETS INCOME EXPENSES Checking Account Debit Credit Rental income Debit Credit Electric Expense Debit Credit Insurance Income Debit Credit 1,000 Employer Social Security Expense Debit Credit Acct Receivable.- Church A Debit Credit 1) 1,000 Interest Income-Church B. Debit Credit Discount Expense-insurance Debit Credit Account Receivable.- School Debit Credit Teacher Charge Income Debit Credit 4,455 Wages Expense Debit Credit Note Receivable. - Church Debit Credit Discount Expense Teacher Charge Debit Credit