Prepare the journal entries for the above transactions.

For the template of the General Journal, refer to your textbook (Chapter 4 p. 92).

Make sure to record the date, names of debited and credited accounts, descriptions and document numbers (whenever possible) for each transaction.

Use account Purchases to record transactions associated with buying inventory. To record the transaction that took place on December 15, refer to your textbook (Chapter 8 p. 242).

Post the above transactions to the ledger accounts.

For the template of the General Ledger, refer to your textbook (Chapter 4 p. 102).

You can assign numbers to each of the accounts.

Input data in correct place highlighted in Green Nov. 26 Invested cash $20000 to start your business, Memo 01 Nov. 30 Issued Check 101 for $2000 to pay for rent in November and December Dec. 1 Issued Check 102 for $3000 for a one-year insurance policy Dec. 1 Purchased Inventory on account from Olivka with a due payment in 60 days, \$2000, Invoice 1342 Dec. 2 Purchased equipment from Cucina Inc. for $6000 (Invoice 5431), issued Check 103 for $3000, and agreed to pay the balance in 30 days Dec. 3 Purchased inventory from Bevanda with cash payment, issued Check 104 for $3600 Dec. 4 Issued Check 105 for $500 to pay for advertising expense. Dec. 8 Maestro Services LLC bought lunches for its employees for 1 month on credit, \$2500 net; sales tax 5\%; Sales Slip 301 Purchased Inventory costing $1800 from Jolly Plus, Invoice 2341 , terms 2/10,n/30, with freight charges of $100 paid by Jolly Plus and added to the invoice Dec. 15 Issued Check 106 for partial payment to Cucina for equipment Dec. 24 Issued Check 108 to pay the balance owed to Jolly Plus Dec. 27 Received a cash payment from Maestro Services LLC to cover liability. Dec. 31 Sales in cash for $8300, sales tax 5% Dec. 31 The owner's withdrowal for personal expenses, Check 109 You and your assistant earned $4830 for salaries in December. The salaries expense has not been recorded because the employees will not be paid until January Adjustments 10,202. Ignore the payroll taxes Straight-line depreciation method; 5 years Merchandise Inventory on hand at the end of the month, $4700 Expired rent Expired insurance (1IIIIInd 1 I IIIIIIIII Input data in correct place highlighted in Green Nov. 26 Invested cash $20000 to start your business, Memo 01 Nov. 30 Issued Check 101 for $2000 to pay for rent in November and December Dec. 1 Issued Check 102 for $3000 for a one-year insurance policy Dec. 1 Purchased Inventory on account from Olivka with a due payment in 60 days, \$2000, Invoice 1342 Dec. 2 Purchased equipment from Cucina Inc. for $6000 (Invoice 5431), issued Check 103 for $3000, and agreed to pay the balance in 30 days Dec. 3 Purchased inventory from Bevanda with cash payment, issued Check 104 for $3600 Dec. 4 Issued Check 105 for $500 to pay for advertising expense. Dec. 8 Maestro Services LLC bought lunches for its employees for 1 month on credit, \$2500 net; sales tax 5\%; Sales Slip 301 Purchased Inventory costing $1800 from Jolly Plus, Invoice 2341 , terms 2/10,n/30, with freight charges of $100 paid by Jolly Plus and added to the invoice Dec. 15 Issued Check 106 for partial payment to Cucina for equipment Dec. 24 Issued Check 108 to pay the balance owed to Jolly Plus Dec. 27 Received a cash payment from Maestro Services LLC to cover liability. Dec. 31 Sales in cash for $8300, sales tax 5% Dec. 31 The owner's withdrowal for personal expenses, Check 109 You and your assistant earned $4830 for salaries in December. The salaries expense has not been recorded because the employees will not be paid until January Adjustments 10,202. Ignore the payroll taxes Straight-line depreciation method; 5 years Merchandise Inventory on hand at the end of the month, $4700 Expired rent Expired insurance (1IIIIInd 1