Depreciation on the office equipment for the year is $$12,000.$

Employee salaries are paid twice a month, on the $22nd$ for salaries earned from the $1$ st through the $15th,$ and on the $7tr$ of the following month for salaries earned from the $16$ th through the end of the month. Salaries earned from December $16$ through December $31,2024,$ were $$1,800.$

On October $1,2024,$ Pastina borrowed $$54,000$ from a local bank and signed a note. The note requires interest to be paid annually on September $30$ at $12\%.$ The principal is due in $10$ years.

On March $1,2024,$ the company lent a supplier $$24,000,$ and a note was signed requiring principal and interest at $8\%$ t be paid on February $28,2025.$

On April $1,2024,$ the company paid an insurance company $$10,000$ for a one$-$year fire insurance policy. The entire $$10,000$ was debited to prepaid insurance at the time of the payment.

$6.$ $$1,070$ of supplies remained on hand on December $31,2024.$

The company received $$4,000$ from a customer in December for $1,750$ pounds of spaghetti to be delivered in January $2025.$ Pastina credited deferred sales revenue at the time cash was received.

On December $1,2024,$ $$3,000$ rent was paid to the owner of the building. The payment represented rent for Decembe $2024$ and January $2025$ at $$1,500$ per month. The entire amount was debited to prepaid rent at the time of the payment.