1-Nov The owner invested $560000 into the company in exchange for 5,000 shares of common stock. 1-Nov The company purchased a computer system for $10000 and signed a one-year note for the entire balance. The note is due on November 1, 2025 and has an annual rate of interest of 3%. 2-Nov Paid for two years rent on the office space, $11200. 3-Nov Purchased 10 robots at a total cost of $5000 each for cash, FOB Destination. 4-Nov Purchased $2500 of supplies on account, term n/30. 15-Nov Purchased 12 robots at a total cost of $5500 each on account, terms n/30, FOB Destination. Shipping of $150 was paid to the shipping company by the appropriate party. 17-Nov Paid for the supplies purchased on November 4. 18-Nov Paid for a two-year insurance policy for the store, $6000. The policy was effective beginning December 1, 2024. 20-Nov Sold 15 robots for $8500 each on account, terms 3/15, n/30, the company uses FIFO to find the cost of goods sold. The robots were shipped FOB Shipping Point. Record the sales revenue first. 28-Nov Received payment in full on account from the November 20 sale. 29-Nov Paid for November's utilities bill $5600. Prepared payroll for the month of November, the first payroll for the company. Record the Salares Expense entry first. The tax rates are as 30-Nov 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. 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 $15000 from Bank of America by signing a 15-year, 6% note. The note requires annual payments of $1544 beginning December 1, 2025. 1-Dec Purchased a new delivery truck to save customers on shipping. The total cost of the Delivery Truck was $30000. 4-Dec Paid the amount due from the November 15 purchase. 5-Dec Declared and paid $2000 in cash dividends to the stockholders of the company. 6-Dec Purchased $3000 of supplies on account, term n/30. 7-Dec Purchased 20 robots at a cost of $6050 each on account, terms n/30, FOB Destination. 15-Dec Sold 22 robots for $9350 each on account, terms 2/10, n/30, FOB Shipping Point, the company uses FIFO to find the cost of goods sold. Record the sales revenue first. 18-Dec Paid for an ad in the local newspaper, $5000. 24-Dec Received $74800 payment for 8 robots to be shipped on January 8, 2025. 24-Dec Received $74800 payment for 8 robots 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. 2) Post all the Daily Transactions to the Ledger on the Ledger tab. 3) As of December 31, a search revealed the following information. Record any necessary adjusting entries for the year on the Adjusting Entries tab. 1 The computer equipment purchased on November 1 has a 5-year life and an expected residual (salvage) value of $1000. 2 Record any interest that has accrued on the note signed on November 1 for the computer system. 3 The rent paid on November 2 is for two years beginning on November 1. 4 The insurance policy purchased on November 18 is effective beginning December 1. 5 Supplies on hand as of December 31 totaled $1100. 6 The delivery truck purchased on December 1 has a 10-year life and an expected residual (salvage) value of $3000. 7 Accrue the interest, if needed, on the note signed on December 1. 8 Record any bad debt expense for the year ended December 31. Round answer to the whole dollar if needed. 9 Utilites accrued but not yet paid as of December 31 totaled $5600. General Ledger (T-Account) Cash Accounts Receivable Allowance for Uncollectible Accounts Inventory Supplies Prepaid Rent Prepaid Insurance Accumulated Depreciation - Computer Equipment Computer Delivery Truck Accumulated Depreciation - Delivery Truck Accounts Payable Interest Payable Deferred Revenue Salaries Payable Notes Payable Federal Income Tax Payable NC State Income Tax Payable FICA Tax Payable Unemployment Tax Payable Common Stock Retained Earnings Cash Dividends Sales Revenue Service Revenue Sales Discounts Cost of Goods Sold Advertising Expense Utilities Expense Salaries Expense Depreciation Expense Rent Expense Interest Expense Supplies Expense Bad Debt Expense Payroll Tax Expense Insurance Expense NOTE: Three accounts have check figures. After posting the Daily Transactions, your Cash, Accounts Receivable, and Cost of Goods Sold balance will show GREEN if it is correct.