Following are the transactions and adjustments that occurred during the first year of operations at Kissick Co.

1. Issued 192,000 shares of $5-par-value common stock for $960,000 in cash.
2. Borrowed $520,000 from Oglesby National Bank and signed a 11% note due in three years.
3. Incurred and paid $410,000 in salaries for the year.
4. Purchased $660,000 of merchandise inventory on account during the year.
5. Sold inventory costing $580,000 for a total of $900,000, all on credit.
6. Paid rent of $220,000 on the sales facilities during the first 11 months of the year.
7. Purchased $160,000 of store equipment, paying $51,000 in cash and agreeing to pay the difference within 90 days.
8. Paid the entire $109,000 owed for store equipment and $610,000 of the amount due to suppliers for credit purchases previously recorded.
9. Paid the entire $109,000 owed for store equipment and $610,000 of the amount due to suppliers for credit purchases previously recorded.
10. Incurred and paid utilities expense of $36,000 during the year.
11. Collected $825,000 in cash from customers during the year for credit sales previously recorded.
12. At year-end, accrued $57,200 of interest on the note due to Oglesby National Bank.
13. At year-end, accrued $20,000 of past-due December rent on the sales facilities.
14. 

849.000 Assa Cash Aca Merchandisery Todan Equipment Town Les 843.000 160 000 1019 100 Tstore tables Totalt Stockholm Total Sector Tood KISSCK CO Meeste Sales Coat of goods sold Gross profit Tant expense Salaries expense |uty - wm. Salaries payable 900.000 680000 320.000 240,000 410,000 38,000 Loss from operations Interest expense 5390,000) 57.200 Net [423 200)