Charles Price, a connoisseur of fine chocolate, opened Charles' Fine Chocolate Co$.$ in Stowe, VT$,$ on February $1,2024,$ by investing $$30,000$ in cash into the business.

The shop specializes in a selection of gourmet chocolate candies and a line of gourmet ice cream. You have been hired as manager. Your duties include maintaining the store's financial records.

On February $1,$ Charles paid three months' rent for the store in advance at $$2,000$ per month.

That same day, Charles purchased supplies for the store in the amount of $$450$ in cash from the Stowe Supply Co$.$

The store received a candy delivery from the Green Mountain Chocolate Factory worth $$10,000$ on February $1,$ just in time to open the store. Charles placed the order on January $15.$ Charles purchased the candy on credit because the store was starting up$.$ The bill for the candy is due in $60$ days.

Charles took out an insurance policy to cover the store for $$2,400.$ This is an anual policy that Charles paid for all at once on February $1.$

In order to have enough cash to pay employees and purchase additional supplies and equipment for the store, Charles took out a loan from the Chittenden County bank of $$24,000$ on February $2.$ The loan is due in $2$ years. As the new employee responsible for maintaining the store's accounting records, you will need a computer for recordkeeping and inventory tracking. You expressed your concem to Charles, and on February $3,$ he purchased a computer costing $$5,000.$ Charles pays cash for the computer. That same day, Charles purchases furmiture and fixtures for the store $($shelving to display the chocolates, other display cases, etc.$)$ for $$18,500.$ You determine that the computer's useful life is three years, and the useful life of the fumiture and fixtures is five years. Charles decides to pay cash for the furniture and fixtures as well. In order to let people in Stowe know about his new store, Charles takes out an advertisement in the Stowe Gazette on February $3$ announcing the store's grand opening. The advertisement cost $$1,000.$ Because the Stowe Gazette is a small business, they do not accept credit. Charles, therefore, had to pay cash for the advertisement.

Joumal entries to record sales are entered into the general joumal weekly. On February $8,$ week one, sales were recorded. Week one sales were $$5,500.$ Of this amount, $$2,000$ was in cash, the remainder on credit. The cost of chocolate sold was $$1,500.$ The inventory account is updated at the same time sales are recorded. On February $10,$ Charles paid $$500$ to the Green Mountain Chocolate Factory for the chocolate received on February $1.$

Wages were paid on February $15$ in the amount of $$1,500.$ These wages covered the first fifteen days of February. Employees, in total, earn $$100$ per day. Sales for week two were recorded on February $15.$ Sales for week two totaled $$2,500.$ Of this amount, $$1,300$ was in cash, and the remainder was on credit. The cost of chocolate sold was $$1,125.$

On February $16,$ Charles ordered additional supplies fiom the Stowe Supply C$.$ II $$350.$ On February $19,$ the supplies were received. The supplies were purchased on credit, and the bill for the supplies is due in $60$ days. On February $20,$ one of the display cases was damaged. The cost to repair the damage was $$215.$ Charles paid for the repair with cash. On February $20,$ the store received payment of $5100$ from a customer who purchased chocolate on credit during week $2.$ On February $21,$ a customer retumed an unopened box of chocolate. Charles gave the customer a full refind of $$50$ in cash. The box of chocolate cost Charles $535.$ On February $22,$ a customer paid $$100$ in advance for a basket of gourmet chocolates to be prepared and dellivered to the customer's home on March $14.$ On February $22,$ week $3,$ sales were recorded. Sales for week $3$ totaled $4,445.$ Of this amount, $$2,250$ was in cash, the remainder on credit. The cost of chocolate sold was $$2,050.$

On February $25,$ Charles paid the Green Moutain Chocolate Factory $$1,000.$ On February $29,$ the store received a heating bill for the month of February. The bill is $$1,000,$ which is not surprising given the cold Vermont winters. The bill is due on March $10.$ You perform an inventory of the sup