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Journalize the following entries

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During December, Ahmed Rashidi company completed the following summary transactions Date December Transaction Ahmed Rashidi invested $1,000,000 cash, $300,000 equipment on which there was notes payable of $50.000, and also contributed supplies in the amount of $6,000 Purchased merchandise on account from Kwanza, $200,000, term 2/10; n/30; FOB shipping point. Ahmed Rashidi company paid the transportation charge of $3,000. Sold goods on account to Mr. Never Pay, $20,000. The cost of the goods was $3,000. Established Petty Cash Fund of $500 Paid 36-month insurance starting from December 1, $3,600. Purchased Furniture and Fixtures for $200,000 cash. Returned $20,000 of the merchandise purchased from Kwanza. Paid the amount due to Kwanza. Sold merchandise to Eric Robinson for $120,000 (cost is $20,000), term 3/15; n/30. Eric Robinson returned $30,000 goods because of defectiveness; the cost of the goods 1. 1. 4 returned was $5,000. Received a 120-day 10% note from Eric Robinson for the outstanding balance due from him. Purchased merchandise from Demetrius El for $90,000, term 2/10; n/30, FOB 16 25 26 27 30 30 30 destination. Demetrius EL paid the shipping charge of $2,000. Paid the amount due to Demetrius El. Discounted the note received from Eric Robinson at 996. Received $8,000 from ABC for service to be performed. Part of the services owed to ABC was performed in the amount of $2,000. Accrued service revenue of $120,000. Accrued Salaries of $12,000 to be paid to employees. One-month insurance expired and needs to be adjusted

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