1.	On May 1, 2017, Hassellhouf purchased equipment for $21,200 plus sales taxes of $1,600 (all paid in cash).
2.	On July 1, 2017, Hassellhouf sold for $3,500 equipment which originally cost $5,000. Accumulated depreciation on this equipment at January 1, 2017, was $1,800; 2017 depreciation prior to the sale of the equipment was $450.
3.	On December 31, 2017, Hassellhouf sold on account $9,000 of inventory that cost $6,300.
4.	Hassellhouf estimates that uncollectible accounts receivable at year-end is $3,500.
5.	The note receivable is a one-year, 8% note dated April 1, 2017. No interest has been recorded.
6.	The balance in prepaid insurance represents payment of a $3,600 6-month premium on September 1, 2017.
7.	The building is being depreciated using the straight-line method over 30 years. The salvage value is $30,000.
8.	The equipment owned prior to this year is being depreciated using the straight-line method over 5 years. The salvage value is 10% of cost.
9.	The equipment purchased on May 1, 2017, is being depreciated using the straight-line method over 5 years, with a salvage value of $1,800.
10.	The patent was acquired on January 1, 2017, and has a useful life of 10 years from that date.
11.	Unpaid salaries and wages at December 31, 2017, total $5,200.
12.	The unearned rent revenue of $6,000 was received on December 1, 2017, for 3 months rent.
13.	Both the short-term and long-term notes payable are dated January 1, 2017, and carry a 9% interest rate. All interest is payable in the next 12 months.