The following are selected transactions of Joytech Corporation for the year2018.

September 1 Purchased inventory from Skyline company on account for Ksh 50,000.

Joytech records purchases gross and uses periodic inventory system.

Oct 1. Issued Ksh 50,000, 12th months, 8% notes to Skyline in payment of account

Oct 1. Borrowed Ksh 75,000 from Smart bank by signing 12 months, zero interest bearing Ksh 81,000 note.

Required:

Prepare Journal entries to record the selected transactions as at 31st December, 2018