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Please begin on Dec. 11 and use accounts listed in picture. !!!Please include values!!!

Create journal entries for each transaction starting on Dec.11. Refer to the list of account when naming the entries

1 2 2 2 4 4 4 5 5 5 un Dec. Borrowed $20,000 from the bank, signing a 3-year, 6.3% promissory note. Paid $30,000 for display cases and other store fixtures. Paid an annual premium of $8,400 for business Insurance. Pald $8,000 to cover rent for December, January, February, and March. Purchased $45,000 of merchandise from Taylor Company with terms 2/10, 1/30. Bought $860 of store supplies on account. Returned damaged merchandise to Taylor Company and received credit for $15,000. Received $7,500 from a customer to satisfy a sale back in October. Investors paid a total of $90,000 to purchase 70,000 shares of the $.50 par value common stock of Fix It Up, Inc. Purchased merchandise for $27,000 cash. 7 Completed a $9,400 credit sale to Mel Hays with terms 1/10, 1/30. Received and paid a telephone bill in the amount of $400 for December service. Paid the balance due to Taylor Company. Received $1,000 of merchandise returned by Mel Hays. 15 A company that owed us $1,200 filed bankruptcy. The account was written off. 15 Purchased $18,000 of merchandise from McGee Company. Terms are 1/10, 1/30. 15 Received payment in full from Mel Hays. 16 Sold merchandise to A.V. Hill on account, $25,000. The terms were 2/15, net/30. 20 Received a check from A.V. Hill for payment in full. 27 Received a $326 bill for electricity used in December. 27 Sold merchandise on account to Dennis Rhodes for $24,700, terms 2/15, n/30. 9 11 14 29 Paid half of the amount owed to McGee Company. 31 Recorded cash sales for December totaling $37,540. 31 Fix It Up, Inc. paid a $.15 per share cash dividend. Cash Accounts Receivable Allowance for Bad Debts Office Supplies Prepaid Insurance Prepaid Rent Inventory Store Fixtures Accounts Payable Notes Payable Common Stock Additional Paid in Capital Dividends Retained Earnings Sales Sales Discounts Sales Returns Utilities Expense Purchases Purchase Returns Purchase Discounts

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