Record each December transaction in the general journal and post each entry to the general ledger.

Transactions:

12/01/2016 Wonder contributed $55,000 cash to the business in exchange for shares of common stock.

12/01/2016 Purchased $9,000 of equipment paying cash.

12/01/2016 Paid $1,000 for a four-month insurance policy starting on December 1.

12/09/2016 Paid $16,000 cash to purchase land to be used in operations.

12/10/2016 Purchased office supplies on account, $2,900.

12/19/2016 Borrowed $30,000 from the bank for business use. Wonder signed a note payable to the bank in the name of the corporation. The note is due in five years.

12/22/2016 Paid $1,200 for advertising expenses.

12/26/2016 Paid $500 on account.

12/28/2016 The business received a bill for utilities to be paid in January, $230.

12/31/2016 Revenues earned during the month included $20,500 cash and $3,300 on account.

12/31/2016 Paid employees salaries $3,100 and building rent $1,000. Record as a compound entry.

12/31/2016 The business received $1,050 for auto screening services to be performed next month.

12/31/2016 Cash dividends of $3,500 were paid to stockholders.