The following selected transactions relate to liabilities of Interstate Farm Implements for December of 2018. Interstates fiscal year ends on December 31. Required: Prepare the appropriate journal entries for these transactions.

1. On December 15, received $11,500 from Bradley Farms toward the purchase of a $149,500 tractor to be delivered on January 6, 2019. 2. During December, received $42,000 of refundable deposits relating to containers used to transport equipment parts. 3. During December, credit sales totaled $836,000. 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.)