FCU company was established on October 1, 220XX, the following are the transactions of FCU company in 20XX:

10/01 FCU company was formally established, and shareholders contributed $5,000,000 to obtain common shares of the company.

10/01 Payment of half year office rent at $80,000 per month.

Hire staff on

10/25 and pay $45,000 per month.

11/05 Purchased $250,000 worth of merchandise from KFC.

On

11/15, sold $500,000 worth of goods to MM Company.

11/20 Pay KFC half of the purchase price.

11/30 Pay employees $45,000 for the month

12/05 Received $350,000 owed by MM Company.

12/08 Received and paid November utility bill of $4,500.

12/20 Sell $152,500 of goods to QQ Company. 12/31 Please remember to make adjusting entries.

Reference accounting items: 1101 Cash on hand 1144 Accounts receivable 1201 Merchandise inventory 1251 Prepaid expenses

2143 Accounts Payable 3101 Equity 4101 Sales

6201 Administration - Salary Expenses 6202 Administration - Rent Expenses 6209 Administration - Utilities

Prototype:

Please use computer software to prepare the balance sheet of FCU Corporation on December 31.