Hunter, Inc. found several errors in its accounting records when it went through a recent financial review. Hunter began business in January 2018. Currently, the general ledger for 2020 is open but 2018 and 2019 are closed. Since none of these errors were discovered until 2020, no corrections have been posted. a) At the end of 2019, Hunter missed inventory of 13,200 in its physical count. b) Hunter borrowed $500,000 on a line of credit on September 1, 2019. No payments were made in 2019 but the interest rate was 6%. In 2020, a payment of $50,000 was made on September 1, 2020 and recorded entirely as a payment of principal (debit loan payable). No interest was recorded in either 2019 or yet in 2020. c) The purchase of machinery for $37,800 in May, 2018 was recorded properly but depreciation has not been recorded since the purchase. d) In October, 2019, a truck was purchased for $15,300 and recorded as transportation expense. e) Hunter purchased property at the start of business (cost 1,100,000 including land) has been depreciated (except for $300,000 land cost) using a useful life of 40 years since the start of business (straight-line). In the middle of 2020, Hunter decides the useful life of the building is only going to be a total of 30 years. Assume straight-line depreciation, half year convention, no salvage and 5 years for vehicles and 7 years for machinery. Required: 1. For each item, describe what is needed for disclosure purposes if Hunter reports 2018, 2019 and 2020 in its annual report. 2. For each item give the journal entries (if any) that are necessary in the general ledger for 2020