To start this project, go to the Transactions tab and prepare journal entries to record each of the Part I transactions. Record each Part I journal entry on the General Journal tab

Hey, Chegg I really need some help in my accounting class. The transactions are in the photo, and the instructions and list of available accounts are posted. Essentially this is for creating a general journal. Normally this would be fairly easy, but there are a few new types of transactions and I really want to make sure I do this correctly.

Accounts

Cash

Accounts Receivable

Supplies

Prepaid Insurance

Inventory Equipment

Accumulated Depreciation Equipment

Accounts Payable

Salaries Payable

Dividends Payable

Income Taxes Payable

Note Payable

Common Stock

Additional Paid In Capital

Retained Earnings

Dividends

Bicycle Sales Revenue

Cost of Goods Sold

Advertising Expense

Salaries Expense

Supplies Expense

Interest Expense

Insurance Expense

Depreciation Expense

Income Taxes Expense

Gain on Sale

Part I Date Description Declared a cash dividend of $400 to be paid at the end of the month. Purchased 25 bicycles for $18,750 with terms 2/10, net/30. (Best Bicycles uses the 1-Dec 2-Dec 4-Dec 5-Dec 8-Dec 10-Dec 14-Dec perpetual inventory method and records purchases at gross, not net of discount Issued (sold) 500 additional shares of $2 par common stock for $10,000 cash. Sold a bicycle for $3,200 cash. Cost of the bicycle was $1,000 Purchased supplies on account for $225 Paid vendor for the bicycles purchased on December 2. Paid for TV advertisement that ran during the first week of December in the amount of $1,100 15-Dec Paid salaries in the amount of $800 for salaries earned during the first two weeks of December 15-Dec Sold equipment with an original cost of $1,200 and accumulated depreciation of $900 for $400 16-Dec Collected accounts recevable in the amount of 900. 18-Dec Paid December interest incurred on note payable in the amount of $75 20-Dec Sold a bicycle for $4,700. Received $2,500 in cash with the balance due in 30 days. The 28-Dec 31-Dec 31-Dec cost of this bicycle was $1,900. Paid $350 to repair equipment. Made a $1,500 principal payment on the note payable. Paid cash dividend declared on December 1