(LAURA TAYLOR WHOLESALE DISTRIBUTIORS)

General Journal

Date Transaction Details Debit Credit

December 31 Depreciation Expense - Buildings 10,000
Accumulated Depreciation - Buildings 10,000

31 Depreciation Expense - Equipment 9,000

Accumulated Depreciation - Equipment 9,000

31 Interest Expense 5,000

Interest Payable 5,000

31 Income Summary 90,000

Merchandise Inventory 90,000

31 Merchandise Inventory 89,000

Income Summary 89,000