The following selected transactions relate to liabilities of Interstate Farm Equipment Company for December 2021. Interstate's...

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The following selected transactions relate to liabilities of Interstate Farm Equipment Company for December 2021. Interstate's fiscal year ends on December 31. Required: Prepare the appropriate journal entries for these transactions. 1. On December 15, received $10,000 from Bradley Farms toward the sale by Interstate of a $130,000 tractor to be delivered to Bradley on January 6, 2022. 2. During December, received $33,000 of refundable deposits relating to containers used to transport equipment parts. 3. During December, credit sales totaled $864,000. The state sales tax rate is 5% and the local sales tax rate is 2%. (This is a summary journal entry for the many individual sales transactions for the period.) (For all requirements, if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) The following selected transactions relate to liabilities of Interstate Farm Equipment Company for December 2021. Interstate's fiscal year ends on December 31. Required: Prepare the appropriate journal entries for these transactions. 1. On December 15, received $10,000 from Bradley Farms toward the sale by Interstate of a $130,000 tractor to be delivered to Bradley on January 6, 2022. 2. During December, received $33,000 of refundable deposits relating to containers used to transport equipment parts. 3. During December, credit sales totaled $864,000. The state sales tax rate is 5% and the local sales tax rate is 2%. (This is a summary journal entry for the many individual sales transactions for the period.) (For all requirements, if no entry is required for a transaction/event, select "No journal entry required" in the first account field.)