Post transactions in General Journal

3	4/11/2022	Orca Company sold 150 units of inventory on account for $100 per unit -- Recall you are using FIFO. Orca Company has 70 units of $50 inventory remaining (from March 4th) and 500 units of $65 inventory (from March 21st)
4	4/11/2022	Orca Company pays an appraiser to assess useful life and salvage value for its building and equipment, which are going to begin being depreciated. The following is noted: - Incurs "appraisal expense" of $500 which is paid in cash and is NOT capitalized. - The Building with book value of $495,000 has a salvage value of $45,000 and useful life of 25 years. - The Equipment with book value of $3,000 has $0 of salvage value and 6-year useful life Record depreciation expense and accumulated depreciation for 2 months for the building (February/March) and 3 months for the Equipment (Jan-March).
5	4/13/2022	Orca Company released a new advertising campaign worth $10,000 with its new slogan "Wonderful are the Waves". Orca Company paid legal and registration costs of $18,000 for trademarking the phrase.
6	4/13/2022	Orca Company purchased 200 units of inventory for $55 per unit.
7	4/13/2022	Orca Company decides to sell its building. The purchaser agrees to take on Orca Company's note owed on the building and pay an additional $20,000.
8	4/15/2022	Orca Company sells 100 units of inventory for $100 per unit on account
9	4/15/2022	A customer pays orca company $15,000 for services to be provided later.
10	4/15/2022	A customer recently sued Orca Company. Orca Company hired a law firm for $1,000 and the firm told Orca Company that a $10,000 loss is probable. Record the contingent liability
11	4/18/2022	Orca Company leases a new piece of equipment. The payments on the lease are paid annually and are $500 for 6 years with a borrowing rate of 5% and all payments are made at the end of April, starting this year.
12	4/18/2022	Orca Company issues a bond of face value $15,000. Orca Company will pay 4% annual interest on the bond.
13	4/18/2022	Orca Company provides services of $40,000 to a customer and is paid in cash.

14	4/20/2022	Please begin recording the adjusting entries for Orca Company. ONLY RECORD THE FOLLOWING ENTRIES BELOW (even if more are technically "needed") - Orca Company estimates bad debt as 8% of current A/R - Utilities of $1,250 are paid - Orca company accrues interest on the note receivable it has recorded - Orca Company records the additional depreciation on its Equipment - Orca Company makes a lease payment - Orca Company records Income Tax expense and Income Tax payable of 20% of current income before taxes
15	4/20/2022	In addition, please record the closing entries. You can record the closing entries as debits/credits to the total values for revenues and expenses instead of individual revenue and expense accounts (see the Excel provided)

16	4/22/2022	Orca Company currently has $175,000 in its common stock. Orca Company completed its common stock contract and established a par value of $1 on its common stock for 10,000 shares outstanding. As such, Orca Company needs to adjust the current equity accounts to remove common stock and record Additional-Paid in Capital for the excess over par value.
17	4/22/2022	Orca Company repurchases 1,000 shares of its own common stock for $8 per share
18	4/22/2022	Orca Company immediately receives an opportunity to resell 500 of those shares at $12 per share. Record this resale of the treasury stock.