Record the following transactions for General Electric Company for the month of September 2025 and make necessary adjustments:

• Sep 1: Received $500,000 in cash from the issuance of common stock.
• Sep 5: Purchased equipment worth $300,000 on credit.
• Sep 10: Sold merchandise for $200,000 in cash.
• Sep 15: Paid $40,000 in cash for operating expenses.
• Sep 20: Received $100,000 in cash from customers on account.
• Sep 25: Paid $120,000 in cash for salaries.
• Sep 30: Paid $20,000 in cash for utilities.

Adjust for the following:

• Accrued salaries expense: $15,000
• Prepaid insurance expired during the month: $10,000
• Depreciation expense for the month: $25,000