The following selected transactions relate to liabilities of Interstate Farm Equipment Company for December 2021. Interstates fiscal year ends on December 31. Required: Prepare the appropriate journal entries for these transactions. 1. On December 15, received $13,000 from Bradley Farms toward the sale by Interstate of a $169,000 tractor to be delivered to Bradley on January 6, 2022. 2. During December, received $36,000 of refundable deposits relating to containers used to transport equipment parts. 3. During December, credit sales totaled $942,000. The state sales tax rate is 5% and the local sales tax rate is 2%. (This is a summary journal entry for the many individual sales transactions for the period.)

(For all requirements, if no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

• 1

  On December 15, received $13,000 from Bradley Farms toward the sale by Interstate of a $169,000 tractor to be delivered to Bradley on January 6, 2022.

• 2

  During December, received $36,000 of refundable deposits relating to containers used to transport equipment parts.

• 3

  During December, credit sales totaled $942,000. The state sales tax rate is 5% and the local sales tax rate is 2%.

Journal entry worksheet

Note: Enter debits before credits.

Event	General Journal	Debit	Credit
1

Journal entry worksheet

Note: Enter debits before credits.

Event	General Journal	Debit	Credit
2

Note: Enter debits before credits.

Event	General Journal	Debit	Credit
3