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Bowling Corporation had the following transactions occur during February: Bowling purchased $385,000 in...

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Accounting

Bowling Corporation had the following transactions occur during February:
Bowling purchased $385,000 in inventory on credit.
Bowling received $20,000 in cash from customers for subscriptions that will not begin until the following month.
Bowling signed a note from Midwest Bank for $80,000.
Bowling sold all the inventory purchased in (1) above for $520,000 on account.
Bowling paid employees $73,000 for some of the services performed during January.
Bowling purchased land for $65,000 in cash.
Bowling received $515,000 in cash from customers paying off some of Januarys accounts receivable.
Bowling paid dividends to stockholders in the amount of $3,000.
Bowling owes its employees $91,000 for work performed during February but not yet paid.
Bowling paid $365,000 on its accounts payable.
Bowling paid taxes in cash of $43,000.
Required:
Prepare journal entries for the above transactions.

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