Record these transactions in general journal ledger:
Record these transactions in general journal ledger:
Dec 1: Purchased equipment costing $15,608 by taking out a 4-month installment note with First Bank.
Dec 4: Accepted a sales return from Eastern for an item having an original gross sales price of $6,000. The original sale to Eastern occurred in November with terms 2/15, n/30.
Dec 5: Specifically wrote off the receivable balance owed by Baker as uncollectible.
Dec 7: Returned defective inventory with a gross cost of $4,000 back to Hunt Corp.
Dec 14: Wilson returned an item originally purchased on Dec 12 with a gross sales price of $7,000.
Dec 14: Returned inventory with a gross cost of $2,000 back to Nelson Industries.
Dec 18: Bought office supplies on account for $9,000 from Staples Inc. (open a new Accounts Payable in the subsidiary ledger--Vendor # 210-30). Invoice # is OM1218. Staples Inc.’s terms are n/30
Dec 19: Received the December utilities bill for the amount of $15,000. The bill will be paid in January of next year. Special note: Credit the Utilities Payable account for the balance owed.
Dec 19: The annual dividend of $1.00 per share is declared for all outstanding shares. The dividend will be distributed to shareholders on January 19, 20X6.
Dec 22: Purchased land and a building for a combined cost of $460,000 by signing a 2-year, 10% note with a face value of $460,000. An appraisal shows the land and building have individual fair market values of $325,000 and $175,000, respectively.
| Date | Account Name | A/R or A/P Subsidiary Account # | Debit | Credit |
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