RECORD THE FOLLOWING TRANSACTIONS IN THE GENERAL JOURNAL: 1-On May 15, 2007, Matrix, Inc sold building materials

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RECORD THE FOLLOWING TRANSACTIONS IN THE GENERAL JOURNAL:

1-On May 15, 2007, Matrix, Inc sold building materials for $ 10,500 that are subject to a 9% sales tax.

2-On May 16, 2007, Matrix, Inc received $ 9,500 in advance for service to take place on July 12. 2007.

3-On May 30, 2007, Matrix, Inc. asked Carter, Co. to accept a 60-day, 15% note to replace its easting $ 10.s00 account payable to Carter

4-On May 30, 2007, Matrix, Inc issued a S155,000, 4year, 12% note at face value to Forest Hills Bank and received $ 155,000 cash. The note requires annual interest payments each December 31.

5-On July 30, 2007, Matrix, Inc. pays the note plus interest to Carter. (May 30, 2007)

6-On AugustI, Matris. Ine issues bonds, that pay interest semiannually on February 27 and August 31. The bonds have a $ 138,000 par value, the annual contract rate is 12%, and the bonds mature in 15 years. Market rate at the date of issuance is 12%.

7- On August 31, 2007, payment of bonds interest expense, 12%. (August 1,2007)

8-On October 30, 2007, Matrix, Inc pays the note plus interest to Carter (August 1,2007)

9-On October 31, 2007, Matrix Inc borrows $ 75,000 from American Bank. The note 2007). bears interest at 9% per year. Principal and interest are due in 30 days (November A.

10-On October 31, 2007, Matrix weekly payroll of S35,000 entirely subject t and Medicare (7.65%), federal (0.8%) and state (4) unemployment taxes, with income tax withholding of $ 1,420 and union dues of $ 99 deducted. Journal entry to record salaries and wages paid

12- On October 31, 2007, Matrix weekly payroll of $ 35,000 entirely subject to FLCA. and Medicare (7.65%), federal (0.8 %) and state (4) unemplovment taxes, with income tax withholding of $ 1,320 and union dues of $ 88 deducted. Journal entry to record employer payroll taxes.

13- On November 30, 2007, payment of notes principal and interest expense. (On October 31, 2007) 14- Prepare Matrik journal entries to record the December 31 accrued notes interest (May 30, 2007)