record transactions in general journal, no explanations needed

Baker Appliance has just purchased a franchise from Long Appliance Manufacturers Long Appliance Manufacturers is a manufacturer of kitchen appliances. Long Appliance Manufacturers markets its products via retail stores that are operated as franchises. e. In addition to purchasing the franchise, Baker Appliance will also purchase land with an existing building to use for its retail store, store fixtures, and office equipment. The business will purchase appliances from Long Appliance Manufacturers and resell them in its store, primarily to local building contractors for installation in new homes. Baker Appliance completed the following transactions during 2021, its first year of operations (A chart of accounts listing the accounts to be used is at the end of this assignment.) a. Received $500,000 cash and issued common stock Opened a new checking account at Atlanta National Bank and deposited the cash received from the stockholders. b. Paid $200,000 cash and issued a $400,000. 10-year, 5% notes payable for land with an existing building. The assets had the following market values: Land, $100,000, Building, $500,000 C. Paid $75,000 for store fixtures. d Paid $45,000 for office equipment. Paid $600 for office supplies. f Paid $3,600 for a two-year insurance policy. g Purchased appliances from Long Appliance Manufacturers (merchandise inventory) on account for $425,000 Established a petty cash fund for $150 Sold appliances on account to Bill Contractors for $215,000, terms n/30 (cost. $86,000). Sold appliances to Down Contracting for $150,000 (cost $65,000), receiving a 6- month, 8% note k Recorded credit card sales of $80,000 (cost, $35,000), net of processor fee of 2%. All fees are recorded at the time of the sale. 1 Received payment in full from Bill Contractors. m Purchased appliances from Long Appliance Manufacturers on account for $650,000 m. Made payment on account to Long Appliance Manufacturers, $300,000 0. Sold appliances for cash to Home Builders for $350,000 (cost, $175,000). P. Received payment in full on the maturity date from Down Contracting for the note. q Sold appliances to Lowell Contracting for $265,000 (cost, $130,000), receiving a 9-month, 8% note. Made payment on account to Long Appliance Manufacturers, $500,000 S Sold appliances on account to various businesses for $985,000, terms 1/30 (cost, $395,000)