| JUNE JOURNALTRANSACTIONS | |
| June 1 | Purchased 5,000 Fish Finder units on Credit from Raydar Marinefor $42.00 per unit. |
| June 1 | Issued 10,000 shares of common stock for$20 per share (Refer to the Chart of Accounts for description ofcommon stock). |
| June 1 | Signed a one-year 15%, $216,000 notepayable with Boat US Bank. |
| June 1 | Sold 4,000 Propellers on account to ChrisCraft for $85 per units, Invoice #5555. |
| June 2 | Rented part of the warehouse to a newtenant and received $6,000 for three months rent (June, July,August). |
| June 2 | Sold 5,200 Fish Finder units on account toSea Ray for $82 per unit, Invoice #5556. |
| June 2 | Purchased office supplies from Staples oncredit for $4,800. |
| June 2 | Sold 900 Downriggers for $66 per unit and800 propeller units for $86 per unit on account to Boston Whaler,Invoice #5560. |
| June 3 | The Board of Directors declared a cashdividend of $2 per share for shareholders of record on June 5th,payable on June 12th. Refer to the chart of accounts for # ofoutstanding shares. Please include ALL outstanding shares as ofJune 5th. |
| June 4 | Received payment from Chris Craft for May20th sale. |
| June 4 | A bankruptcy judge disallowed PantherMarine’s claim for $7,000 due from Four Winns. Management decidedto write off this accounts receivable. |
| June 5 | Paid $3,300 to DU Utility Co. forutilities bill that was recorded in May as an Account Payable,Check #5278. |
| June 6 | Purchased 8,000 shares of Grand ValleyMarine stock for $15 per share. The investment is intended to beheld for less then 1 year. |
| June 7 | Received and paid expense reports fortravel and entertainment totaling $5,925, Check #5279. |
| June 8 | Paid for office supplies purchased on June2nd, Check #5280. |
| June 11 | Paid in full for the June 1 purchase fromRaydar Marine, Check #5281. |
| June 11 | Received a bill from the law firm BobLoblaw for $4,100, payable upon receipt, for bond consulting fees,paid the bill immediately-no payable recognized. Issued Check#5282. |
| June 12 | Paid the dividend that was declared onJune 3, Check #5283. |
| June 13 | Took advantage of a trade discount of 20%on the purchase of 3,250 Propellers on account from Acme for $52per unit. (Trade discount taken on total BEFORE other purchasediscount). |
| June 13 | Purchased 1,850 Fish Finder units oncredit from Raydar Marine for $50 per unit. |
| June 15 | Sold 3,500 Propellers on credit to Donzifor $99.00 per unit, Invoice 5557. |
| June 15 | Check # 5284 was issued for payroll:$20,500 for salaried and $6,600 for wages. |
| June 16 | Purchased 2,500 Downriggers on credit fromScotty for $32 per unit. |
| June 17 | Issued a credit to Sea Ray for the returnof 350 defective fish finder units from the June 2nd sale. Theseunits has a cost basis of $41.16 per unit. |
| June 17 | Returned the 350 defective units receivedfrom Sea Ray to Raydar Marine. Raydar Marine issued a cashrefund. |
| June 18 | Received payment in full from Chris Craftfor the June 1st sale. |
| June 20 | While inspecting the June 13th purchase,it was discovered that the Fish Finder units were programmed forSouth America instead of North America. Panther Marine returned theentire order to Raydar Marine. |
| June 20 | Panther Marine purchased 2,800 shares ofit’s own stock for $10 per share. |
| June 22 | Sold 2,650 Downriggers on credit to SeaRay for $56 per unit, Invoice #5559. |
| June 23 | Paid $195,000 of the $362,500 owed to Acmefrom May 25, Check #5285. |
| June 23 | Received payment from Donzi for $175,000of the $300,000 owed from May 5. |
| June 24 | Purchased a $3,000 international phonecard for one of the sales representative’s upcoming Europeanbusiness trip, Check #5286. |
| June 25 | Paid in full for the purchase from Acme onJune 13, Check #5287 |
| June 26 | Purchased 1,250 Downriggers from Scotty for $33 per unit payingin cash, Check #5288 |
| June 27 | Sold 1,500 Downriggers on credit to Donzifor $61 per unit, Invoice 5558. |
| June 27 | Hired and paid a consultant $85,000 todevise a marketing plan. Panther Marine’s management felt this wasnecessary to develop brand awareness. Check #5289. |
| June 28 | Panther Marine is behind in its mortgagepayments to LMCU. Paid a total of $20,000 ($4,000 principal and$16,000 interest), Check #5290. |
| June 28 | Sold 1,000 treasury shares from June 20th transaction for $15per share |
| June 29 | Received payment in full from Donzi forthe June 27th transaction. |
| June 29 | Sold 3,000 shares of Grand Valley Marinestock for $18 per share. |
| June 29 | Check #5292 was issued for payroll:$20,500 for salaries and $7,750 for wages. |
| June 30 | Paid the first month’s principal paymentof $18,000 on the note payable. In addition, paid one month’sinterest, Check #5293 |
| June 30 | Issued bonds payable at 97 discount. Facevalue of the bonds is $400,000. Contract rate on bond is 8% andbond matures in 5 years. |
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