Prepare journal entries for these:
1. On January 10, sold merchandise on account to Rayms $9,000 and Fischer $8,600. Terms 2/10, n/30, F.O.B. shipping point.
2. On January 12, purchased merchandise on account from Zapfel $3,200 and Liotta $2,600. Terms 1/10, n/30, F.O.B. destination.
3. On January 14, received checks, $4,500 from Longhini and $2,500 from Hall, for sales on account after discount period has lapsed.
4. On January 15, send checks to Joosten for 9,000 less 3% cash discount, and to Maida for $10,000 less 2% cash discount.
5. On January 16, issued credit of $500 to Fischer for merchandise returned.
6. On January 21, paid off the balances to Zapfel and Liotta for the purchases on January 12.
7. On Feburary 9, received payment in full from Rayms and Fischer.
8. On March 1, paid rent of $4,800 for a two-year term starting from May 1, 2013.
9. On April 1, the company CEO paid $49,999 from her savings bank account to purchase a car for personal use.
10. On April 12, paid $700 cash for office supplies.
11. Cash dividends totaling $1,000 were declared on June 13 and paid to stockholders on June 23.
12. Issued a note of $120,000 to bank (one year, annual interest rate 4%) for cash on July 1.
13. On July 5, purchased merchandise from Maida $32,000, terms 3/10, n/30.
14. On July 7, issued common stock 1000 shares, $10 par, in exchange of a land with a fair market value of $16,000.
15. On July 8, returned $300 of merchandise to Maida and received credit.
16. On August 1, sold merchandise to Lachey on account $80,000, term 1/10, n/30, F.O.B. shipping point.
17. Paid off the balance to Maida on August 4.
18. On Auguest 8, paid utilities expense, $10,209.
19. On August 18, Lachey paid off its balance.
20. On September 1, paid cash $7,500 to Farmington for merchandise purchased last year.

21. On October 1, paid off notes payable $110,000 (issued in 2010) and associated interest $5,000 (including $1,500 interest payable on the balance sheet).
22. Over the year, daily cash sales were $16,500.
22. Over the year, sales and office employees earned $46,500 in salaries and wages, of which $2,500 remained as payable at the end of year.
23. On Dec 31, received an utilities bill of $1,250 (for December 2012) and paid off the bill on Jan.10,2013.