Complete the following transactions using the proper accounts

Start from Jan1 to Ending Balance

Assets Allowance Inventory Prepaid Cash January 1, 2010 Sold $200,000 in stock Paid $12,000 for 1 year of rent Received $24,000 for services to be delivered uso over the coming 12 months Purchased equipment-$30,000, 2% discount, 30,000 FOB shipping of $600 AR 2O,000 During the year: On April 1, borrowed $10,000 at 3% interest per year. Interest is payable semi-annually. Purchased inventory on account, $82,000. Sold inventory for $90,000 on account. The inventory had cost $62,000. Collected $81,000 of the sales on account Paid $82,000 on accounts payable. Purchased inventory on account, $96,000. Paid $70,000 of the accounts payable. Paid salaries of $20,000 Estimated that 2% of sales on account will be uncollectible Depreciated equipment using SL, 5-year life, $5,000 estimated salvage Recorded interest on the loan- first semi-annual payment Recorded interest on the loan- year-end adjustment (3 months) Received notice of a lawsuit from a customer. The attorneys believe there is no legal basis. Rent expense Earned Revenue Ending Balance Total Assets Total Liabilities and Equity Liabilities AP Unearn Rev Int. Pay Warranty Note Pay Bo Eq Acc. Dep. uity R.E Cash Flow Rev Exp