Record Journal Entries for the following 1-9 transactions.

(NOTE: March 31 has 6 blanks to be filled - it got cut off).

Concord Corporation prepares quarterly financial statements. The post-closing trial balance at December 31, 2016, is presented below CONCORD CORPORATION Post-Closing Trial Balance December 31, 2016 Debit Credit $26,250 Cash Accounts Receivable Allowance for Doubtful Accounts Equipment Accumulated Depreciation-Equipment Buildings Accumulated Depreciation-Buildings Land Accounts Payable Common Stock Retained Earnings 24,190 21,600 108,000 21,600 $1,300 16,200 16,200 13,360 97,200 57,380 $201,640 $201,640 During the first quarter of 2017, the following transactions occurred: On February 1, Concord collected fees of $12,960 in advance. The company will perform $1,080 of services each month from February 1, 2017, to January 31, 2018. on February 1, Concord purchased computer equipment for $9,720 plus sales taxes of $648, $3,240 cash was paid with the rest on account. Check #455 was used. On March 1, Concord acquired a patent with a 10-year life for $10,368 cash. Check #456 was used. On March 28, Concord recorded the quarter's sales in a single entry. During this period, Concord had total sales of $151,200 (not including the sales referred to in item 1 above). All of the sales were on account. On March 29, Concord collected $143,640 from customers on account. On March 29, Concord paid $17,680 on accounts payable. Check #457 was used. on March 29, Concord paid other operating expenses of $105,330, Check #458 was used On March 31, Concord wrote off a receivable of $220 for a customer who declared bankruptcy On March 31, Concord sold for $1,750 equipment that originally cost $11,880. It had an estimated life of 5 years and salvage of $1,080. Accumulated depreciation as of December 31, 2016, was $8,640 using the straight line method. (Hint: Record depreciation on the equipment sold, then record the sale.) 1. 2, 3. 4. 5. 7. 8. 9