Fast Deliveries, Incorporated $($FDI$),$ was organized in December last year and had limited activity last year. The resulting balance sheet at the beginning of the current year is provided below:

Fast Deliveries, IncorporatedBalance Sheet at January $1$ Assets:$$Liabilities:$$Current Assets$$Current Liabilities$$Cash$ $12,500$Accounts Payable$ $500$Accounts Receivable$680$Total Liabilities$500$Supplies$610$Stockholders$$ Equity:$$Common Stock$11,610$Retained Earnings$1,680$Total Stockholders' Equity$13,290$Total Assets$ $13,790$Total Liabilities and Stockholders$$ Equity$ $13,790$

Two employees have been hired, at a monthly salary of $$2,320$ each. The following transactions occurred during January of the current year.

January$1$ $$6,000$ is paid for $12$ months$$ insurance starting January $1.($Record as an asset.$)$

$2$ $$4,800$ is paid for $12$ months of rent beginning January $1.($Record as an asset.$)$

$3$ FDI borrows $$34,800$ cash from First State Bank at $6\%$ annual interest; this note is payable in two years.

$4$ A delivery van is purchased using cash. The total cost was $$19,200.$

$5$ Stockholders contribute $$7,000$ of additional cash to FDI for its common stock.

$6$ Additional supplies costing $$1,500$ are purchased on account and received.

$7$ $$800$ of accounts receivable arising from last year$$s December sales are collected.

$8$ $$400$ of accounts payable from December of last year are paid.

$9$ Performed services for customers on account. Sent invoices totaling $$11,900.$

$10$ $$8,000$ of services are performed for customers who paid immediately in cash.

$16$ $$2,320$ of salaries are paid for the first half of the month.

$20$ FDI receives $$4,000$ cash from a customer for an advance order for services to be provided later in January and in February. $2$

$5$ $$4,600$ is collected from customers on account $($see January $9$ transaction$).$

January Additional information for adjusting entries:

$31$a$.$ A $$800$ bill arrives for January utility services. Payment is due February $15.$

$31$b$.$ Supplies on hand on January $31$ are counted and determined to have cost $$220.$

$31$c$.$ As of January $31,$ FDI had completed $60\%$ of the deliveries for the customer who paid in advance on January $20.$

$31$d$.$ Accrue one month of interest on the bank loan. Yearly interest is determined by multiplying the amount borrowed by the annual interest rate $($expressed as $0\mathrm{.}06).$ For convenience, calculate January interest as one$-$twelfth of the annual interest.

$31$e$.$ Assume the van will be used for $4$ years, after which it will have no value. Thus, each year, one$-$fourth of the van$$s benefits will be used up$,$ which implies annual depreciation equal to one$-$fourth of the van$$s total cost. Record depreciation for the month of January, equal to one$-$twelfth of the annual depreciation expense.

$31$f$.$ Salaries earned by employees for the period from January $16$ to $31$ are $$1,160$ per employee and will be paid on February $3.$

$31$g$.$ Adjust the prepaid asset accounts $($for rent and insurance$)$ as needed.

Required:

$3.$ Prepare an unadjusted trial balance at January $31.$