Accounts payable	4,240
Accounts receivable	28,600
Allowance for doubtful accounts	1,144
cash	29,650
Common stock	45,000
inventory	11,150
Land (1 lot)	32,000
Retained earnings	51,266
supplies	250

1. On January 1, purchased equipment for cash of 22,100. The company paid 1,350 in transportation costs and 1,100 installation fees. Trained a current employee to operate the equipment for a one-time training fee of $450. Additionally, the company planned to hire an additional operator in the future for a salary of $55,000 annually.
2. Paid $3,000 for a one-year term insurance policy.
3. Purchased $775 of supplies on account to be used over the next several months by the business
4. Purchased 35,000 of inventory on account, FOB destination point, with the terms 3/15, n/30, FOB destination point.
5. The responsible party paid $300 cash to the shipping company in event #4
6. Sold inventory costing 24,800 for 48,000 on account with the terms 3/15, n/30, FOB destination point.
7. The responsible party paid $500 cash to the shipping company in event #6.
8. Paid cash on accounts payable for event #4 purchase, 9 days after purchase date.
9. Collected accounts receivable from event #6, 16 days after the sale.
10. Paid dividends of 2,000.
11. Wrote off a customers $850 account deemed uncollectible.
12. Sold the land (1 lot) for $35,000 cash.

(make a journal entries, T account, trial balance)