A three$-$year fire insurance policy was purchased on July $1,2021,$ for $$12,000.$ The company debited insurance expense for the entire amount.

Depreciation on equipment totaled $$15,000$ for the year.

Employee salaries of $$18,000$ for the month of December will be paid in early January $2022.$

On November $1,2021,$ the company borrowed $$200,000$ from a bank. The note requires principal and interest at $12\%$ to be paid on April $30,2022.$