Britney Spears opened a store Crazy Heels. Below are transactions for 2021: Jan 1: Invested $1650,000 cash into business. Feb 3: Bought a new equipment on account for $450,000. The equipment has an estimated useful life of 10 years and residual value of $12,000 and depreciated using straight-line method. Feb 17: Sold 35 Manolo Blahnik shoes each costing $1,240 on account. Cost of the merchandise was 40% of total sales. Sales taxes are 4%. Mar 1: Purchased Jimmy Choo shoes for women for $245,000, terms 5/10, n/30. Apr 1: Prepaid taxes for the next 10 months, each month 3,000 May 31: Received an advance payment from a buyer for 50 shoes each costing 1,300. As of 31 December 60% of revenue actually earned. June 15: Paid bank fees for $6,800 June 17: Paid for Jimmy Choo shoes breaking discount period. July 31 : Accrued wages for $320,000 Aug 31: Took $32,000 for personal reasons Dec 31: Decided to buy a new equipment which has a fair value of $730,000 from ABC Company. The transaction has a commercial substance and new equipment will be traded for equipment purchased Feb 3. Trade in allowance is $65,000. Record gain or loss on this transaction. Dec 31 next year: Recorded depreciation for an equipment bought 31 Dec previous year. Double declining balance method, useful life 20 years. Journalize each transaction Prepare adjusted trial balance

wer