a)	Jan. 3, 2021 - Shadow Box paid the salaries payable from 2020.
b)	Jan. 8, 2021 - The company acquired an additional $41,500 cash from the issue of common stock.
c)	Jan. 12, 2021 - The company paid $747 cash for supplies to be used by the business.
d)	Jan. 15, 2021 - Shadow Box purchased 40 framed photographs for later sale at a cost of $13,650. The framed photographs were purchased on account with the terms 1/10, n/30.
e)	Jan. 24, 2021 - Shadow Box decided to pay $5,000 of its accounts payable balance from event (d) before the discount period expired, so Shadow Box first applied the discount to the $5,000 amount so it could reduce its accounts payable balance (note: the actual payment is described in event (f) below). After applying this discount, Shadow Boxs inventory cost was $340 for each item.
f)	Jan. 24, 2021 - Shadow Box paid cash to settle parts of its accounts payable balance as described in event (e).
g)	Feb. 6, 2021 - The company sold 24 framed photographs for a total price of $14,940. Sales of $10,790 were on account, while $4,150 were cash sales.
h)	Feb. 6, 2021 - The cost to Shadow Box of each product sold in event (g) was $340.
i)	Feb. 9, 2021 - The company paid the workers a total of $6,972 in salaries.
j)	Feb. 22, 2021 - The company provided $29,880 of Photography and photographic artwork services. The services were billed to the customers.
k)	Mar. 1, 2021 - Shadow Box rented a business van, paying $3,984 in advance for a one year rental.
l)	Mar. 7, 2021 - Paid cash to settle additional accounts payable in the amount of $3,137. The payment was made after the discount period expired.
m)	Mar. 16, 2021 - Collected $31,540 of accounts receivable.
n)	Apr. 14, 2021 - Shadow Box performed $11,620 worth of Photography and photographic artwork services for a local college; $9,960 was on account and $1,660 was for cash.
o)	May. 1, 2021 - Paid $5,976 for one years rent on office space in advance.
p)	May. 8, 2021 - Shadow Box purchased, and paid cash, for 12 framed photographs for later sale at a cost of $345 each.
q)	May. 24, 2021 - The company paid accounts payable of $1,195, but not within the discount period (the company uses the gross method).
r)	Jun. 1, 2021 - Shadow Box rented a larger building; paid $5,478 for 12 months rent in advance.
s)	Jun. 5, 2021 - Shadow Box purchased, and paid cash, for 5 framed photographs for later sale at a cost of $352 each.
t)	Jun. 10, 2021 - Shadow Box purchased 10 framed photographs for later sale at a cost of $355 each. The purchase was on account.
u)	Jun. 18, 2021 - The company sold 36 framed photographs for a total price of $23,240. Sales of $16,600 were on account, while $6,640 were cash sales.
v)	Jun. 18, 2021 - Record the cost of goods sold related to the sale from event (u) using the perpetual FIFO method.
w)	Jul. 1, 2021 - Made a full refund to a dissatisfied customer who returned a framed photograph. The sale had been a cash sale for $913 with a cost of $352. Record the revenue part of the event.
x)	Jul. 1, 2021 - Made a full refund to a dissatisfied customer who returned a framed photograph. The sale had been a cash sale for $913 with a cost of $352. Record the cost part of the event.
y)	Jul. 7, 2021 - Paid employees a total of $9,130 cash for salaries employees earned during the current period.
z)	Aug. 18, 2021 - Provided $26,560 of Photography and photographic artwork services during the year. The services were billed to the customers.
aa)	Sep. 30, 2021 - Recognized $664 of service revenue earned during the first nine months of the year; it had been collected in the prior year.
bb)	Oct. 1, 2021 - Sold additional Photography and photographic artwork services worth $332 for one years service, starting immediately. The customers paid cash for the full amount.
cc)	Nov. 7, 2021 - Collected $42,330 of accounts receivable.
dd)	Nov. 15, 2021 - Paid an additional $4,565 to settle some accounts payable; the payment was made after the discount period expired.
ee)	Dec. 28, 2021 - Paid $2,324 of advertising expense during the year.
ff)	Dec. 29, 2021 - Paid $3,469 of utilities expense for the year.
gg)	Dec. 29, 2021 - Paid $10,350 of other operating expense for the year.
hh)	Dec. 30, 2021 - Paid a cash dividend of $9,960 to the shareholders.
ii)	Dec. 31, 2021 - There was $524 of supplies on hand at the end of the year.
jj)	Dec. 31, 2021 - Recognized the expired rent from the prior year, van (event (k)), office space (event (o)), and the building (event (r)) for the year.
kk)	Dec. 31, 2021 - Recognized revenue for the current year earned from event (bb).
ll)	Dec. 31, 2021 - Accrued salaries at December 31 were $996.

expense & expense expense expense 26 38 earnings dedared 5 payable payable revenue 0 Land 3,32 Inventory 664 149 524 149 supplies parent Cash