record only the adjusted entries (the second page) using information from the first page (trans. 1-19)

Part 2 - General Journal (LO3-2) - Record the following transactions in the General Journal Trans. Date Dec. 1 2 Dec. 1 Dec. 1 Dec. 1 Description Borrow $115.000 from the local bank and signed a six-year installment note with payments of $1,905 at the end of each month. The annual interest rate is 6%. Current portion of Note at year end after December payment = 16,500 Purchased a building for $56,000. Paid $2,000 in attorney fees, $4,000 in remodeling costs to get the building ready for use. The building has a 25- year useful life with residual value of $2,000. Sold $4,350 worth of gift cards in opening celebration for services to be provided in December. The gift cards expire at the end of the month. Sell 16,000 shares of no-par value common stock for $6 per share to obtain the funds necessary to start your business Purchase 400 units of inventory on account with terms 3/10 net 30. Purchase a vehicle necessary for business operations for $21,000 cash. The vehicle has a five year life with a residual value of $3.000. Pay $6,000 for one year of insurance in advance. Sell 200 units of inventory to a customer who signs a 6-month promissory note at 6% with interest and principal due at maturity. perpetual method 2 entries Purchase Supplies on account, $3,200. Provide 40 hours of services to customers who pay with gift cards (calculate using your hourly service rate) no terms specified. Company pays invoice for inventory purchased on December 1" within Dec. 1 Dec. 1 Dec. 1 Dec. 3 Dec. 3 Dec. 6 Dec. 8 discount terns. Dec. 10 Dec. 12 Dec. 20 Dec. 23 Purchase an additional 240 units of inventory for cash. Sell 100 units of inventory to a customer on account with a sales discount of 2/10, n/30. (Perpetual method - 2 entries) The customer who purchased product on December 12 pays the amount due (within discount period). Sell 180 units of inventory on account. (Perpetual method=2 entries) Record the of $1,905 installment payment on the $115,000 installment note borrowed on December 1". The annual interest rate is 6% Pay employee salaries, $4,000. Pay cash dividends to shareholders of $0.10 per share. Vehicle did not meet expectations sold to another company for $23.000. (Record depreciation at date of sale and then record sale). Dec. 31 Dec. 31 Dec. 31 Dec. 31 Venerdi Juullal. Adj-1 Dec. 31 Dec. 31 Adj-2 Adj-3 | The company has $1,800 of supplies left at month end. Record the portion of the Prepaid Insurance used in December. Record one month of depreciation for the building purchased on Dec. 31 December 1st. Adj-4 Dec. 31 Employees earned $1,200 in salaries the last week in December that will be paid on January 10 of next year. All of the unused gift cards issued in December have expired. Adj-5 Dec. 31 Adj-6 Dec. 31 Adj-7 Dec. 31 The company estimates that the one year warranty costs for the products they sold in December to be $450. Record the accrued interest for one month on the Note Receivable from December 3 Using the percentage-of-receivables method, record the adiustment of uncollectible accounts. It is estimated that 3% of ending accounts receivable will be uncollectible. Income taxes for the year are $3,700 and will be paid in January. Adj-8 Dec. 31 Adj-9 Dec. 31