CP10-2 Recording and Reporting Current Liabilities with Evaluation of Effects on the Debt-to-Assets Ratio CLO 10-2, LO 10-5] EZ Curb Company completed the following transactions. The annual accounting period ends December 31. Jan. 8 Purchased merchandise on account at a cost of $22,500. (Assume a perpetual inventory system 17 aid for the January 8 purchase Apr. 1 Received $53,600 from National Bank after signing a 12-month, 14.5 percent, promissory note. June 3 Purchased merchandise on account at a cost of $26,500. July 5 Paid for the June 3 purchase Aug. 1 Rented out a small office in a building owned by EZ Curb Company and collected six months' rent in advance, amounting to $11,100. (Use an account called Unearned Revenue.) Dec. 20 Collected $270 cash on account from a customer Dec. 31 Determined that wages of $9,900 were earned but not yet paid on December 31 (ignore payroll taxes) Dec. 31 Adjusted the accounts at year-end, relating to interest Dec. 31 Adjusted the accounts at year-end, relating to rent