19 23 30 -6 Note: Place debits first, credits second but do NOT Indent credits. If more than one debitor credit, please list in alphabetical order to receive Full 17 1-Nov The owner invested $130000 into the company in exchange for 5,000 shares of common stock. 1-Nov The company purchased a computer system for $20000 and signed a one-year note for the entire balance. The note is due on November 1, 18 2025 and has an annual rate of interest of 3%. 2-Nov Paid for two years rent on the office space, $18000 20 3-Nov Purchased 10 tractors at a total cost of $1100 each for cash, FOB Destination 21 4-Nov Purchased $1700 of supplies on account, term n/30. 15-Nov Purchased 12 tractors at a total cost of $1210 each on account, terms n/30, FOB Destination. Shipping of $150 was paid to the shipping 22 company by the appropriate party. 17-Nov Paid for the supplies purchased on November 4. 24 18-Nov Paid for two year insurance policy for the store, $12000. The policy was effective beginning December 1, 2024. 20 Nov Sold 17 tractors for $3200 each on account, terms 2/10, 1/30, the company uses FIFO to find the cost of goods sold. The printers were 25 shipped FOB Shipping Point. Record the sales revenue first. 26 28-Nov Received payment in full on account from the November 20 sale. 27 29. Nov Paid for November's utilities bill $1700. Prepared payroll for the month of November, the first payroll for the company. Record the Salares Expense entry first. The tax rates are as 28 30 Nov follows: 29 Federal income Tax Rate-15%. NC State Income Tax Rate -10% 31 FICA Tax Rate-7.65%. 32 Unemployment Tax Rate -6% on the first $7000 of each employees eamings per year. 33 34 1-Dec Paid the employees the amount due to them from the November 30 payroll, taxes will be paid in January 1-Dec The company borrowed $60000 from Bank of America by signing a 10-year,4% note. The note requires annual payments of $7397 35 beginning December 1, 2025 36 1-Dec Purchased a new delivery truck to save customers on shipping. The total cost of the Delivery Truck was $70000 4-Dec Paid the amount due from the November 15 purchase. 38 5-Dec Declared and paid $4000 in cash dividends to the stockholders of the company 39 6-Dec Purchased $1700 of supplies on account, termn/30. 7.Dec Purchased 20 tractors at a cost of $1331 each on account terms/30 FOB Destination 15-Dec Sold 18 tractors for $3520 each on account, terms 2/10, 1/30, the company uses FIFO to find the cost of goods sold. Record the sales revenue 18-Dec Paid for an ad in the local newspaper $1700 24-Dec Received $28160 payment for tractors to be shipped on January 8, 2025 31-Dec Prepared payroll for the month of December, the first payroll for the company. Record the Salaries Expense entry first. The tax rates are as follows: Federal income Tax Rate -15% NC State Income Tax Rate -10% FICA Tax Rate -7.65% Unemployment Tax Rate -6% on the first $7000 of each employees earnings per year 37 40 first 41 42 43 46 45 46 42 40 19 23 30 -6 Note: Place debits first, credits second but do NOT Indent credits. If more than one debitor credit, please list in alphabetical order to receive Full 17 1-Nov The owner invested $130000 into the company in exchange for 5,000 shares of common stock. 1-Nov The company purchased a computer system for $20000 and signed a one-year note for the entire balance. The note is due on November 1, 18 2025 and has an annual rate of interest of 3%. 2-Nov Paid for two years rent on the office space, $18000 20 3-Nov Purchased 10 tractors at a total cost of $1100 each for cash, FOB Destination 21 4-Nov Purchased $1700 of supplies on account, term n/30. 15-Nov Purchased 12 tractors at a total cost of $1210 each on account, terms n/30, FOB Destination. Shipping of $150 was paid to the shipping 22 company by the appropriate party. 17-Nov Paid for the supplies purchased on November 4. 24 18-Nov Paid for two year insurance policy for the store, $12000. The policy was effective beginning December 1, 2024. 20 Nov Sold 17 tractors for $3200 each on account, terms 2/10, 1/30, the company uses FIFO to find the cost of goods sold. The printers were 25 shipped FOB Shipping Point. Record the sales revenue first. 26 28-Nov Received payment in full on account from the November 20 sale. 27 29. Nov Paid for November's utilities bill $1700. Prepared payroll for the month of November, the first payroll for the company. Record the Salares Expense entry first. The tax rates are as 28 30 Nov follows: 29 Federal income Tax Rate-15%. NC State Income Tax Rate -10% 31 FICA Tax Rate-7.65%. 32 Unemployment Tax Rate -6% on the first $7000 of each employees eamings per year. 33 34 1-Dec Paid the employees the amount due to them from the November 30 payroll, taxes will be paid in January 1-Dec The company borrowed $60000 from Bank of America by signing a 10-year,4% note. The note requires annual payments of $7397 35 beginning December 1, 2025 36 1-Dec Purchased a new delivery truck to save customers on shipping. The total cost of the Delivery Truck was $70000 4-Dec Paid the amount due from the November 15 purchase. 38 5-Dec Declared and paid $4000 in cash dividends to the stockholders of the company 39 6-Dec Purchased $1700 of supplies on account, termn/30. 7.Dec Purchased 20 tractors at a cost of $1331 each on account terms/30 FOB Destination 15-Dec Sold 18 tractors for $3520 each on account, terms 2/10, 1/30, the company uses FIFO to find the cost of goods sold. Record the sales revenue 18-Dec Paid for an ad in the local newspaper $1700 24-Dec Received $28160 payment for tractors to be shipped on January 8, 2025 31-Dec Prepared payroll for the month of December, the first payroll for the company. Record the Salaries Expense entry first. The tax rates are as follows: Federal income Tax Rate -15% NC State Income Tax Rate -10% FICA Tax Rate -7.65% Unemployment Tax Rate -6% on the first $7000 of each employees earnings per year 37 40 first 41 42 43 46 45 46 42 40