C4-6 Recording/Posting Transactions and Adjustments, and Preparing Trial Balances and Financial Statements--Requires Calculating Depreciation and Interest (Chapters 2, 3, and 4) (LO 2-3, LO 3-3, LO 4. 2, LO 4.4) Fast Deliveries, Inc. (FDI), was organized in December last year and had limited activity last year. The resulting balance sheet at the beginning of the current year is provided below: FAST DELIVERIES, INC Balance Sheet at January 1 Assets: Liabilities: Cash $12,400 Accounts Payable Accounts Receivable 880 Stockholders! Equity Supplies 510 Common Stock 11,820 Retained Earnings Total Assets $13,790 Total Liabilities and Stockholders' Equity $13,290 $ seo 1,970 Two employees have been hired at a monthly salary of $2,020 each. The following transactions occurred during January of the current year ch January 2 1 54,200 is paid for 12 months Insurance starting January 1. (Record as an asset.) 2 2 $3,600 is paid for 12 months of rent beginning January 1. (Record as an asset.) 2 FDI borrows $36,000 cash from First State Bank at 6% annual interest: this note is payable in two years. 2 4 A delivery van is purchased using cashIncluding tax, the total cost was $19,200 2 5 Stockholders contribute $4,000 of additional cash to FDT for its common stock, 6 Additional supplies costing $1,000 are purchased on account and received 7 1000 of accounts receivable arising from last year's December sales are collected, $800 of accounts payable from Decenber of last year are paid 9 Perforned services for customers on account. Sent invoices totaling $11,000 10 $7.000 of services are perforned for customers who paid Imediately in cash 16 $2,620 of salaries are paid for the first half of the month. FDT receives $1.500 cash from customer for an advance order for services to be provided 1