a Evaluation of the years sales indicated that warranties related to current years sales were $$34,500.$

b The note receivable in the general ledger is an $8\%$ nine month note received on January $1,2024$ that due is on September $30,2024$

c There notes payable balance relates to the delivery truck purcent information is provided in the transaction above.

c The company purchased an annual liability policy on April $1,2024.$

d Office supplies on hand at June $30$ were $$2,300$ and store supplies on hand were $$2,700.$

e Depreciation on the building is calculated using straight line with a $40$ year life and $$100,000$ residual value.

f

Depreciation for the office equipment is calculated using double declining balance method, has a five year life and was purchased three years ago $(2$ years of depreciation has been recorded$).$

g Information related to the depreciation calculation for the delivery truck is in the transactions above.

h Payroll for June is going to be paid in early July. Salaries earned were $$32,500.$ The FICA rate is $7\mathrm{.}65\%$ and is paid by both the employee and the employer. Employee income taxes are withheld at a rate of $15\%.$ Federal and state unemployment limits were reached in March so they are not a factor.

$3$ Journalize and post the adjusting entries.

June $1$

A new delivery truck is delivered at a total cost of $$63,000.$ The truck has an expected useful life of $7$ years, with no residual value and will be depreciated using the straight line method.

The company made a downpayment of $$12,500$ and issued a $4-$year $6\%$ note for the balance.

The note requires annual payments of $$14,575,$ including interest and principal, be made on

March $31,2025,2026,2027$ and $2028.$