DESCRIPTION medlech, Inc. (MTI) is an installer and servicer of medical imaging equipment. MTs fiscal y 31 December 2015 and has engaged to you close its books for the year. provided for you: AMOUNT BEGINNING BALANCES DATE ACCOUNT ASSED 1-Jul-15 Cash 51-Jul-15 Accounts receivabte 27 ce1-Jul-15 Supplies 1-Jul-15 Wages payable 1-Jul-15 Retained earnings 1-Jul-15 Revenue 1-Jul-15 Wages expense ASSchs-Jul-15 A A A en en 150,000/) 1,500 500- 3,200- 90,100 116,450 57,750 AMOUNT TRANSACTIONS ID# DESCRIPTION Throughout the second half of the year, MTI had the following activity related to supplies: Paid cash for supplies Balance on 31 Dec. 2,000 A A 800 A A A A Purchased a new delivery van on 1 July. Purchase details are as follows: Purchase price Cash paid Amount financed with business line of credit (BLOC) Estimated salvage value (after 10 years) Estimated useful life BLOC interest rate (compounded annually) BLOC interest payments are due annually on 1 July. Straight-line depreciation is used for financial accounting purposes. 36,000 6,000 30,000 6,000 10 years 10% Three-year insurance premium paid in cash on 1 July 4200