a$.$ On $1/01,$ OPC paid employees' salaries and wages that were previously accrued on December $31.$

b$.$ A truck is purchased on $\frac{1}{02}$ for $$8,500$ cash. It is estimated this vehicle will be used for $50,000$ miles, after which it will have no residual value.

c$.$ Payroll withholdings and employer contributions for December are remitted on $1/03.$

d$.$ OPC declares a $$0\mathrm{.}50$ cash dividend on each share of common stock on $\frac{1}{04},$ to be paid on $\frac{1}{10}.$

e$.$ A $$960$ customer account is written off as uncollectible on $\frac{1}{05}.$

f$.$ On $\frac{1}{06},$ recorded sales of $175$ units of inventory on account. Sales tax is charged but not yet collected or remitted to the state.

g$.$ Sales taxes of $$500$ that had been collected and recorded in December are paid to the state on $\frac{1}{07}.$

h$.$ On $\frac{1}{08},$ OPC issued $300$ shares of treasury stock for $$2,400.$

i$.$ Collections from customers on account, totaling $$10,305,$ are recorded on $\frac{1}{09}.$

j$.$ On $\frac{1}{10},$ OPC distributes the $$0\mathrm{.}50$ cash dividend declared on January $4.$ The company's stock price is currently $$5$ per share.

k$.$ OPC purchases on account and receives $70$ units of inventory on $\frac{1}{11}$ for $$4,270.$

The equipment purchased last year for $$27,400$ is sold on $\frac{1}{15}$ for $$25,800$ cash. Record depreciation for the first half of January prior to recording the equipment disposal.

m$.$ Payroll for January $1-15$ is recorded and paid on $\frac{1}{16}.$ Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes.

n$.$ Having sold the equipment, OPC pays off the note payable in full on $\frac{1}{17}.$ The amount paid is $$22,791,$ which includes interest accrued in December and an additional $$91$ interest through January $17.$

On $\frac{1}{27},$ OPC records sales of $30$ units of inventory on account. Sales tax is charged but not yet collected or remitted.

p$.$ A portion of the advance order from December $(25$ units$)$ is delivered on $\frac{1}{29}.$ No sales tax is collected on this transaction because the customer is a U$.$S$.$ governmental organization that is exempt from sales tax.

q$.$ To obtain funds for purchasing new equipment, OPC issued bonds on $\frac{1}{30}$ with a total face value of $$92,000,$ stated interest rate of $5$ percent, annual compounding, and six$-$year maturity date. OPC received $$83,230$ from the bond issuance, which implies a market interest rate of $7$ percent.

r$.$ On $\frac{1}{31},$ OPC records units$-$of$-$production depreciation on the vehicle $($truck$),$ which was driven $2,000$ miles this month.

s$.$ OPC estimates that $2\%$ of the ending accounts receivable balance will be uncollectible. Adjust the applicable accounts on $\frac{1}{31},$ using the allowance method.

t$.$ On $\frac{1}{31},$ adjust for January rent expired.

Accrue January $31$ payroll on $\frac{1}{31},$ which will be payable on February $1.$ Be sure to accrue unemployment taxes and the employer's matching share of FICA taxes.

v$.$ Accrue OPC's corporate income taxes on $\frac{1}{31},$ estimated to be $$4,070.$