record transactions for a general journal.

-Record the following transactions for Cougar Trike Bikes for the month of December in the General Journal. Record transactions under the perpetual net sales and gross purchase method. Date Description Transaction Purchased 30 Trike Bikes from Move Me Trikes for $30,000 on account. Terms were FOB shipping point 2/15 net 30. Paid Freight bill of $110 on purchase of Inventory on 12/1 12/1 Borrowed $10,000 on a 6 month note at 6% interest maturing on May 31st, 2020 to pay for future purchase of custom trimming machine. 12/1 12/5 Purchased $3,500 of supplies on account. Returned 1 Trike Bike to Move Me Trikes-that cost $1,000 due to paint defects Sold 5 Trikes to Johnson Bikes for $9,000 on account that cost 12/7 $5,000. Terms FOB shipping point 3/15 net 30 on a one-year 12/12 December 1st less returns and discount. 12/14 sale to Jacks Cycle that was previously accrued in allowance account. 12/15 S1,200. 12/17 Johnson Bikes returned a $1,800 Trike sold on 12/7 that cost $1,000. 12/20 Received payment from Johnson Bikes for purchase on 12/7 less warranty. Warranty adjustments are made at the end of the year Made payment to Move Me Trikes for goods purchased orn Wrote off the uncollectible $1,500 account receivable from previous Paid employee salaries accrued at the end of November totaling 10 12/20 returns. 1225 Sold 2 Trike Bikes to Bill's Bikes for $3,400 cash. The Trikes cost 1227 Trike to be delivered in January 12/30 12 $1,000 each. Customer paid $600 deposit for future purchase of custom designed 13 The company was notified of a lawsuit concerning safety measures. The company lawyers determined it was probable the company would have to pay from $6,000 to $8,000 in 2021 14 General Journal Part 1 Ref#1 Date Account Debit Credit 12 merchandise inventoy |30,000 12/1 lo 1O,O00 3500 lo 1 Cash 125 Sueelics 12/5 Accouts Pryebie 3500 12/6 12/7 12/7 Mercnaocisc lnet Cash 12/14 Page 4 General Journal Part 1 Continued Date Account Ref # Debit Credir 12/15 10 1220 COs 12/25 Sales Reveque 125 Cot of Goods Sold 12 12/25 Arearned levenue 14