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please do the journal entries. Listed below are selected transactions of Jian Furniture Store for the current year ending December 31. 1. On December 1,

please do the journal entries. image text in transcribed
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Listed below are selected transactions of Jian Furniture Store for the current year ending December 31. 1. On December 1, the store purchased for cash two delivery trucks for $70,000. The trucks were purchased in a state that applies a 6% sales tax. 2. On December 10, the store received $2,000 from the local community theater as a deposit to be returned after certain furniture to be used in stage production was returned on January 10. 3. During December, cash and credit card sales totaled $524,000, which includes the 6% sales tax that must be remitted to the state by the fifteenth day of the following month. 4. The store determined it will cost $78,000 to restore the area (considered a land improvement) surrounding one of its parking lots, when the store is closed in 5 years. Jian estimates the fair value of the obligation at December 31 is $61,500. REQUIRED: Answer Here use cell references Question 1 1. What is the amount that reflects the cost of the trucks? 2. What is the amount recorded as due to customer? 2,000.00 3. What is the amount of sales tax payable? 4. What is the amount of sales? 5. What is the amount of the land improvement? 61,500.00

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