St. Thomas Yacht Services, Inc. had the following transactions during its first month of operations:

Dec 2	Borrowed $50,000 from First Bank after signing a 10 year, 5% promissory note.  Payments are due on the last day of the month.
Dec 4	Journalized the issuance of $60,000 of $1 par value common stock at par.
Dec 7	Signed lease and paid the landlord $1,300 rent for the first month.
Dec 8	Purchased $16,000 of office furniture on account.
Dec 9	Created marketing materials, including a logo.
Dec 12	Purchased a one year insurance policy for $2,700.
Dec 15	Purchased $1,500 of cleaning supplies on account.
Dec 17	Hired 5 employees, who will be paid $12 per hour.
Dec 18	Paid $335 to have marketing materials printed.
Dec 22	Three employees were sent to distribute marketing materials along Pier 8.
Dec 23	Detailed 8 sailboats competing in the Maxi Yacht Rolex Cup this March. The bookkeeper sent an invoice for $14,000.
Dec 25	Received $4,500 in deposits to clean two 63 foot yachts.
Dec 26	Sent two employees to clean Serendipity, a 56 foot sloop. They spent 3 hours on the job.
Dec 29	Paid $72 to employees who cleaned Serendipity and $108 to employees who distributed marketing materials. (Ignore payroll taxes for this problem).
Dec 30	Sent a $1,800 invoice to Serendipity's Captain Samantha, less the $900 deposit.
Dec 31	Paid First Bank $530 representing $208 in interest plus $322 toward the principal.

 

Complete Step 2 of the Accounting Cycle: Prepare journal entries of the transactions.  If no journal entry is required, indicate that in the account description.

Journal

Date	Description	Debit	Credit
Dec 2
Dec 2
Dec 4
Dec 4
Dec 7
Dec 7
Dec 8
Dec 8
Dec 9
Dec 9
Dec 12
Dec 12
Dec 15
Dec 15
Dec 17
Dec 17
Dec 18
Dec 18
Dec 22
Dec 22
Dec 23
Dec 23
Dec 25
Dec 25
Dec 26
Dec 26
Dec 29
Dec 29
Dec 30
Dec 30
Dec 30
Dec 31
Dec 31
Dec 31