To get you started in your new role, the Controller has asked you to review and post the necessary journal entries (JEs) and T account postings for the following transactions, which occurred in the month just ended. Use a perpetual inventory system. The debits and credits should equal and the entries should have proper impact on the accounts that are being used.

The journal entries should be written in proper format. The accounts should not be abbreviated. Ensure that the entries are properly formatted with the names of the credited accounts indented and the proper description shown. Review the associated T accounts and ensure that the journal entries are properly posted to the T accounts.

Fitchburg, LLC operates with monthly accounting periods. All of the company's accounting work is completed through the end of November, and its ledgers show November 30 balances. Terms for all credit sales are 2/10, n/30, unless otherwise stated.

Note that because of recent hiring issues and the resultant backlog problems, the following November transactions need to be posted as journals entries to the general ledger and to the applicable T accounts:

Nov	1	Issued Check No. 4567 to MBA Management Co. in payment of the November rent, $4,000.
	2	Sold merchandise on credit to Acme Company, Invoice No. 8787, for $8,000 (cost is $6,000).
	2	Issued a $175 credit memorandum to Mercer Co. for defective (worthless) merchandise sold on October 28 and returned for credit. The total selling price (gross) was $4,800.
	3	Received a $799 credit memorandum from Products Company for the return of merchandise purchased on October 29.
	4	Purchased the following on credit from Smith Supply Co.: merchandise, $36,000; store supplies, $575; and office supplies, $85. Invoice dated November 4, terms n/10 EOM.
	5	Received payment from Mercer Co. for the balance from the October 28 sale less the Nov 2 return and the discount.
	8	Issued Check No. 3415 to Products Company to pay for the $7,100 of merchandise purchased on October 29 less the Nov 3 return and a 2% discount.
	9	Sold store supplies to the merchant next door at their cost of $378 cash.
	10	Purchased $4,075 of office equipment on credit from Davis Supply Co., invoice dated Nov 10, terms n/10 EOM.
	11	Received payment from Acme Company for the Oct 2 sale less the discount.
	11	Purchased $8,900 of merchandise from Heney, Inc., invoice dated Oct 10, terms 2/10, n/30.
	12	Received an $855 credit memorandum from Davis Supply Co. for the return of defective office equipment received on Oct 10.
	15	Payment of Payroll as follows: payment of sales salaries, $5,525, and office salaries, $3,255.
	15	Cash sales for the first half of the month are $59,230 (cost is $38,210). (Cash sales are recorded daily but are recorded only twice here to reduce repetitive entries.)
	16	Sold merchandise on credit to Cole Company, Invoice No. 8786, for $3,990 (cost is $1,890).
	17	Purchased $13,650 of merchandise from Sunrise Corp., invoice dated 14, terms 2/10, n/60.
	19	Issued Check No. 3413 to Heney, Inc., in payment of its May 10 invoice less the discount.
	22	Sold merchandise to Crane Services, Invoice No. 8787, for $6,850 (cost is $4,990), terms 2/10, n/60.
	23	Issued Check No. 3414 to Summit Corp. in payment of its Nov 14 invoice less the discount.
	24	Purchased the following on credit from Davis Supply Co.: merchandise, $8,210; store supplies, $603; and office supplies, $208. Invoice dated May 24, terms n/10 EOM.
	25	Purchased $3,070 of merchandise from Preston Products, invoice dated Oct 23, terms 2/10, n/30.
	26	Sold merchandise on credit to Cranky Corp., Invoice No. 8789, for $14,120 (cost is $8,320).
	26	Issued Check No. 3415 to Penny Power in payment of the November electric bill, $1,234.
	29	The owner used Check No. 3416 to withdraw $7,500 cash from the business for personal use.
	30	Received payment from Craney Services for the Nov 22 sale less the discount.
	30	Paid employees as follows: Sales Salaries, $5,920, and office salaries, $6,150.
	31	Cash sales for the last half of the month are $68,502 (cost is $47,500).