Selected transactions completed by Kornett Company during its first fiscal year ended December 31, 20Y8, were as follows:

Jan. 3. Issued a check to establish a petty cash fund of $4,500.

Feb. 26. Replenish the petty cash fund, based in the following summary of petty cash receipts: office supplies, $1,680; miscellaneous selling expense, $570; miscellaneous administrative expense, $880.

April 14. Purchased $31,300 of merchandise on account, terms n/30. The perpetual inventory agatem is used to account for inventory.

May 13. Paid the invoice of April 14.

May 17. Receive cash from daily cash sales for $21,200. The amount indicated by the cash register was $21,240.

June 2. Received a 60 day, 8% note for $180,000 on the Ryanair account.

Aug. 1. Received amount owed on June 2 note plus interest at the maturity date.

Aug. 24. Received $7,600 on the Finley account and wrote off the remainder owed in a $9,000 accounts receivable balance. ( The allowance method is used in accounting for uncollectible receivables).

Sept. 15. Reinstated the Finley account written off on August 24 and received $1,400 cash in full payment.

Sept. 15. Purchased land by issuing a $670,000, 90 day note to Zahorik Co., which discounted it at 9%

Oct. 17. Sold office equipment in exchange for $135,000 cash pkus 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.

Nov. 30. Journalized the monthly payroll for November, based in the following data:

Nov. 30. Journalized the employer's payroll.

Dec. 14. Journalized the payment if the September 15 note at maturity.

Dec. 31. The oension cost for the year was $190,400, of which $139,700 was paid to the pension plan trustee.