The following are selected accounts and account balances of the Sawyer Company on May 31:

   Debit                                              (Credit)

Cash ………………………………….          $12,523

Accounts receivable ………………….   23,052

Inventory ……………………………..        16,300

Office equipment …………………….    35,860

Accumulated depreciation …………(10,540)

Notes payable …………………………     (3,400)

Accounts payable …………………….   (3,500)

Sales revenue …………………………    (47,872)

Gain on sale of office equipment …    (400)

Cost of goods sold ……………………    22,354

Utility expense ……………………….        1,124

The Sawyer Company entered into the following transactions during June:

Date Transaction

June 3 Sold for $700 office equipment that had cost $2,000 and has associated accumulated depreciation of $1,500.

7 Made sales of $2,000 on credit; the cost of the inventory sold was $1,200.

10 Purchased $1,000 of inventory for cash.

15 Purchased new office equipment costing $4,000, paying $1,500 and signing a 90-day note for the balance.

16 Received check for June 7 credit sale.

17 Made cash sales of $4,200; the cost of the inventory sold was $2,300.

20 Purchased $2,600 of inventory on credit.

24 Returned $200 of defective inventory from the June 20 purchase for a credit to its account.

29 Paid for the June 20 purchase less the return.

30 Paid the monthly utility bill, $210.

Required

1. Record the preceding transactions in a general journal.

2. Post to the accounts.