e. Paid $45,000 for office equipment f. Paid $600 for office supplies 9. Paid $3,600 for a two-year insurance polic h. Purch . Established a petty cash fund for $150. i. Sold applia k. Sold appliances to Davis Contracting for 5 (merchandise inventory) on account for $425 ased appliances from TQA ), nces on account to B&B Contractors for $215,000, terms tracting for $150,000 (cost, $65,00o), receiving a 6-month, 8% note. l. Recorded credit card sales of $80,000 (cost, $35,000), net of processor fee of 2% m. Received payment in full from B&B Contractors. n. Purchased appliances from TQA on account for $650,000. o. Made payment on account to TQA, $300,000. p. Sold appliances for cash to LB Home Builders for $350,000 (cost, $175,000) . Received payment in full on the maturity date from Davis Contracting for the note r. Sold appliances to Leard Contracting for $265,000 (cost, $130,000), receiving a 9-month, 8% note. s. Made payment on account to TQA, $500,000 t. Sold appliances on account to various businesses for $985,000, terms n/30 (cost, $395,000) u. Collected $715,000 cash on account. v. Paid cash for expenses: Salaries, $180,000; Utilities, $12,650 w. Replenished the petty cash fund when the fund had $62 in cash ae petty cash tickets for $85 for office supplies x. Paid dividends, $5,000. y, paid the franchise fee to TQA of 5% of total sales of $2,045,000. Requirements 1. Record the transactions in the general journal. Omit explanations. 2. Post to the general ledger. 3. It is a common business practice to reconcile the bank accounts on a monthly basis. However,in this problem, the reconcliation of the company's checking account will be done at the end of the year, based on an annual summary Reconcile the bank account by comparing the following a statement from Long Beach National Bank to the Cash account ledget. Record journal entries as needed and post to the gener transaction z as the posting reference. nnual summary in the general al ledger. Use