Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 2045, were as follows: 1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No entry required from the dropdown and leave the amount boxes blank. If an amount box does not require an entry, leave it bank. Jan. 3: Issued a check to establish a petty cash fund of $4,500. Description Date Credit Feb. 26: Replenished the petty cash fund, based on the following summary of petty cash receipts: office supplies, $1,680; miscellaneous selling expense, $570; miscellaneous administrative expense, $880. Date Description Debi Credit Feb 26 Apr. 14: Purchased $31,300 of merchandise on account, terms n/30. The perpetual inventory system is used to account for inventory. Date Description Credit Den Ax 14 w May 13: Paid the invoice of April 14. Description De Date May 13 May 17: Received cash from daily cash sales for $21,200. The amount indicated by the cash register was $21,240. Date Description May 17 Debit Credit June 2: Received a 60-day, 8% note for $180,000 on the Ryanair account. Date Description Credit Aug. 1: Received amount owed on June 2 note, plus interest at the maturity date. Date Description Debit A Aug. 24: Received $7,600 on the Finley account and wrote off the remainder owed on a $9,000 accounts receivable balance. (The allowance method is used in accounting for uncollectible receivables.) Date Description Debit Credit Aug. 24 fill in the blank 50 in the bank 57 till in the blank 54 fill in the blank fill in the blank 12 fill in the blank Sept. 15: Reinstated the Finley account written off on August 24 and received $1,400 cash in full payment. Date Description Debit Credit Sept. 15 fill in the blank 65 fill the Nanko fill in the blank 68 fill in the blank fill in the blank 71 fill in the bank 72 fill in the blank 4 fill in the blank 73 Sept. 15: Purchased land by issuing a $670,000, 90-day note to Zahorik Co., which discounted it at 9%. Description Date Debit Credit Sept. 15 fill in the blank 77 fill in the Bank 78 fill in the blank fill in the blank 81 All in the blank fill in the Bank 84 Oct. 17: Sold office equipment in exchange for $135,000 cash plus receipt of a $100,000, 90-day, 9% note. The equipment had a cost of $320,000 and accumulated depreciation of $64,000 as of October 17. Date Description Debit Credit Oct. 17 fill in the blank fill in the blank fill in the blank 89 fill in the blank till in the blank 92 fill in the blank 93 fill in the blank 95 fill in the blank 96 fill in the blank 9 fill in the blank 99 Nov. 30: Journalized the monthly payroll for November, based on the following data: Salaries Deductions Sales salaries $135,000 Income tax withheld 5:19,266 Office salaries 77,250 Social security tax withheld 12,735 $212,250 Medicare tax withheld Unemployment tax rates: State unemployment 5.4 Federal unemployment Amount subject to unemployment taxes: State unemployment $5,000 Federal unemployment 5.000 Date Description Debit Credit Nov. 30 the to All in the 107 she has sill in the Nov. 30: Journalized the employer's payroll taxes on the payroll. Date Description Debit Credit Nov. 30 leht all the blue in the banks All in the 12 All the Dec. 14: Journalized the payment of the September 15 note at maturity. Date Description Debit Credit Dec. 14 Dec. 31: The pension cost for the year was $190,400, of which $139,700 was paid to the pension plan trustee. Description Date Debit Credit Dec 31 Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 2 1. Joumalize the selected transactions. Assume 360 days per year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes bla Jan. 3: Issued a check to establish a petty cash fund of $4,500. Date Description Debit Credit Jan. 3 Accounts Payable Accounts Receivable Feb. 2 y cash fund, based on the following summary of petty cash receipts: adminis Cash Date No entry required Debit Credit Feb. 2 Petty Cash Apr. 14: Purchased $31.300 of merchandise on account, terms n/30. The perpetual inventory syst Date Description Debit Credit Part 1 Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 20YS, 1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank. IF Jan. 3: Issued a check to establish a petty cash fund of $4,500. Date Description Debit Credit Jan. 3 cash fund, based on the following summary of petty cash receipts: office Accounts Payable Feb. 20 adminis Accounts Receivable Date Cash Debit Credit Feb. 2 No entry required Petty Cash Apr. 14: Purchased 531,300 of merchandise on account, terms n/30. The perpetual inventory system Date Description Debit Credit Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 204 1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blank Jan. 3: Issued a check to establish a petty cash fund of $4,500. Date Description Debit Credit Jan. 3 Accounts Payable Cash No entry required V cash fund, based on the following summary of petty cash receipts: offi Office Supplies Feb. 26: administre > Petty Cash Debit Credit Date Feb. 26 Apr. 14: Purchased 531,300 of merchandise on account, terms n/30. The perpetual inventory syster Date Credit Description Debit 1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blan Jan. 3: Issued a check to establish a petty cash fund of $4,500. Date Description Debit Credit Jan. 3 Cash Cash Short and Over fund, based on the following summary of petty cash receipts: of Feb adm Miscellaneous Selling Expense No entry required Debit Credit D Feb Petty Cash Apr. 14: Purchased 531,300 of merchandise on account, terms n/30. The perpetual inventory syste Debit Credit Date Description Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 20 1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes blan Jan. 3: Issued a check to establish a petty cash fund of $4,500. Date Description Debit Credit Jan. 3 Accounts Payable H. based on the following summary of petty cash receipts: of Cash Miscellaneous Administrative Expense abit Credit No entry required Petty Cash Apr. 14: Purchased 531,300 of merchandise on account terms n/30. The perpetual inventory syste Date Credit Description Debit 1. Journalize the selected transactions. Assume 360 days per year. If no entry is required, select "No entry required" from the dropdown and leave the amount boxes Jan. 3: Issued a check to establish a petty cash fund of $4,500. Date Description Debit Credit Jan. 3 Feb. 26 Hash fund, based on the following summary of petty cash receipts Cash administ Cash Short and Over Date Debit Credit Feb. 26 No entry required Office Supplies Petty Cash Apr. 14: Purchased 531,300 of merchandise on account. terms n/30. The perpetual inventory s Date Description Debit Credit Apr. 14: Purchased $31,300 of merchandise on account, terms n/30. The perpetual inventory syste Date Description Debit Credit Apr. 14 Accounts Payable Cash May 13: bril 14. Inventory Date Debit Credit May 13 No entry required Purchases May 17: Received cash from daily cash sales for $21.200. The amount indicated by the cash registe > Date Description Debit Credit May 17 June 2: Received a 50-day, 8% note for $180.000 on the Ryanair account Date Description Debit Credit Accounting Cycle Project 3 Apr. 14: Purchased $31,300 of merchandise on account, terms n/30. The perpetual inventory syster Date Description Debit Credit Apr. 14 Accounts Payable May 13: pril 14. Cash Date Debit Credit May 13 Inventory No entry required Purchases > May 17: Received cash from daily cash sales for 521,200. The amount indicated by the cash register Date Description Debit Credit May 17 June 2: Receved a 60-day, 8 note for $180.000 on the Ryanair account Date Descrintinn Dobit V2.cengagenow.com/ilan/takeAssignment/take AssignmentMain.do Accounting Cycle Project 3 Apr. 14: Purchased $31,300 of merchandise on account, terms n/30. The perpetual inventory system is Date Description Debit Credit Apr. 14 May 13: Paid the invoice of April 14. Date Description May 13 Debit Credit Accounts Payable May 17: Cash aily cash sales for 521,200. The amount indicated by the cash register wa No entry required Debit Credit Notes Receivable Date May 17 Sales June 2: Received a 60-day, 89 note for 5190.000 on the Ryanair account