ACC 171 2 WRITE YOUR NAME ON EVERY PAGE OF THIS ERANn ng the tra n .co RECOR ouRNA E s A A PREPARE AN NCO STATEMENT AN AALA Y. 2s PONTSEACH Hedings e, Amnts , Amte 1 General jourmal entries nt ndel amemeons m r e presentaton format, headings proper placement of dolar sen (S and proper placement of sinete and e eeets nderscng AZELECT TO PREPAREATRIAL BALANCE THIS IS NOT REQUIRED AND WILLNOL LARNTESTCRLIAL. Oct FINEX Stockholders invested 535.000 in exchange for common stock The note carries an interest rate of 126 and FINEX borrowed.money and issued a note for must be paid in three months. S1,000. FINEX Paid Sa.s00 for eguipment. The equipment will have an useful tife of3 years, a salvage value of S600, and will be depreciated using the straight line method. Purchased merchandise inventory on account. The ourchased inventory consisted of 100 units; our company paid $12 for each unit and a delivery fee of S100, Payment terms were /10 n/30. 3. FINEX paid rent in the amount of $1.200, for the months of Cctober and November. Paid for inventory purchased on October 6. 28. Recorded our first sale: sold 40 units for S50 each. for using the FIFO method. 31 Prepare adjusting entries 1. Record accrued interest on note payable 18 Inventory and cost of goods sold are accourvted 2. Record depreciation of equipment 3. Amortize the rent payment