At the beginning of December, Madison finds out that Batter Blender Supply Co$.$ has raised the cost of their mixers to $$615$ each, so she will only make one more purchase from them this month. She was lucky enough to find comparable mixers at Garcia Co$.,$ a local manufacturer, so she has signed a contract to buy mixers from them this month. Garcia Co$.$ also has a $$610$ cost for each mixer. She still plans to sell them for $$1,200.$ Madison is running out of storage space in her small apartment, so she decides to rent a small office space to hold all of her supplies and inventory. Rent is due at the beginning of each month.

The following transactions occurred during the month of December.

Dec. $1$ Paid $$700$ rent for the month of December. Check $166.$

$2$ Purchased three mixers on account from Batter Blender Supply Co$.$ for $$1,845,$ terms $\frac{n}{30}.$

$4$ Paid $$45$ freight for the December $2$ purchase. Check $167.$

$6$ Sold three mixers for $$3,600$ on account to Seafood Shack, invoice $1012,$ terms $\frac{n}{30}.$

$7$ Bought four mixers on account from Garcia Co$.$ for $$2,440,$ terms n$/30.$

$8$ Collected the amount due from Peter's Pastries for the November $23$ transaction.

$9$ Returned one of the mixers purchased on Dec $7^{th}$ because it was damaged during shipping. Garcia Co$.$ issues Sweet Treats credit for the cost of the mixer.

$10$ Paid Batter Blender the amount due for the December $2$ purchase. Check $168.$

$12$ Bought three mixers on account from Garcia Co$.$ for $$1,830,$ terms $\frac{n}{30}.$

$13$ Paid $$45$ freight for the December $7$ purchase. Check $169.$

$16$ Three mixers are sold on account for $$3,600$ to the Chop House, invoice $1013,$ terms $\frac{n}{30}.$

$16$ One mixer is sold to a new customer, Bagel Depot, on account for $$1,200,$ invoice $1014,$ terms $\frac{n}{30}.$

$18$ Paid a $$75$ cell phone bill for December. Check $170.$

$19$ Paid $$45$ freight for items received on the December $12$ purchase. Check $171.$

$20$ Taught a $3hr$ cupcake making class at Winslow Sweets for $$150$ per hour. Winslow Sweets paid in full at the end of the class.

$20$ Paid Garcia Co$.$ the amount due for the December $7$ purchase. Check $172.$

$20$ Collected the amount due from Chop House for the December $16$ transaction.

$21$ Purchased baking supplies for $$350$ cash. Check $173.$

$23$ Issued a check to Madison's assistant for $$960$ for the first two weeks in December. Check $174.$

$23$ Two mixers are sold on account for $$2,400$ to the Chop House, invoice $1015,$ terms $\frac{n}{30}.$

$24$ Taught a $2$hr holiday cookie workshop at Young Souls, the local senior center. Madison offered her workshop at a discounted price of $$50$ per hour. She left invoice $1016$ with the director of Young Souls after the workshop.

$26$ Collected the amount due from Bagel Depot for the December $16$ transaction.

$27$ Madison withdrew $$1,200$ cash for personal use. Check $175.$

As of December $31,$ the following adjusting entry data is available.

Accrued utilities total $$340$ for the current month.

Another month's worth of depreciation needs to be recorded on the baking equipment.

A count reveals that $$135$ of baking supplies are remaining in the supply room.

Another month's worth of insurance has expired.

Madison owes her assistant $$960$ for the last two weeks of December, but will not pay it until January $2.$

Madison records another month of accrued interest on her grandma's loan.

At year end, Madison completes all the financial statements and closes out the year. Madison is making huge strides in her entrepreneurship program by starting up Sweet Treats and she cannot thank her friends and family enough for all their support. In the new year, Madison intends on continuing to sell mixers and provide classes on multiple baking needs. She is even considering attending culinary classes at CNM to learn new things she can incorporate into her business.

At the beginning of December, Madison finds out that Batter Blender Supply Co$.$ has raised the cost of their mixers to $$615$ each, so she will only make one more purchase from them this month. She was lucky enough to find comparable mixers at Garcia Co$.,$ a local manufacturer, so she has signed a contrac