a.The company began 2017with 3,075boxeson hand which had a cost of $5.00each. Employees physically counted 2,393boxesin the warehouse at the end of 2017. The company uses a perpetualFIFO inventory system to cost the inventory. The following purchases (all on account) were made during 2017DateUnitsCostper unit15-Jan5,331$ 5.0017-Mar6,899$ 4.9510-May8,002$ 5.157-Oct5,078$ 5.25b.Information about sales isas follows:DateUnitsPriceType30-Jan5,05010.00cash11-Apr2,00510.00credit4-Jun8,15510.00credit19-Aug2,45810.50cash1-Nov2,82510.50credit15-Dec5,49910.50cashc.Cash collectionsfrom customers (on credit sales)amounted to $115,000during 2017.d.During 2017, the company made cash payments to chocolatessuppliers totaling $105,000.e.On March 31, new store fixtures (PPE, ID# 1984) were purchased for $6,450and paid for in cash.f.The company made cashpayment for insurance policy premium of $5,400on April 1 2017. The insurance policy is for store building and covers one year staring on April 1 2017. (Prepaid Insurance balance on the 2016Balance Sheet represents insurance premium payment covering January 2017March 2017).g.On April 15, 2017,the company paid 2016income taxes. Income tax payable accrual adjusting entry was properly recorded on 12/31/2016.h.On October 1, 2017, the company borrowed $18,000 on a new 5-year note payable. The note carries a 5.0%annualinterest rate, and requires semi-annual interest payments.i.On November 1, 2017,$230of receivables weredeemed uncollectible and werewritten off.