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i need help with some transactions Billy Bob's Bikes Transactions 1. 2. Nov. 1: Billy Bob paid in advance for an 8-month insurance policy, which

i need help with some transactions
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Billy Bob's Bikes Transactions 1. 2. Nov. 1: Billy Bob paid in advance for an 8-month insurance policy, which will begin today. He paid $3,856 cash for the policy. Nov. 1: Billy Bob purchased a building for $967.260 using $127.260 cash and then borrowing the rest from the bank. The loan from the bank will be paid off over the next 16 years (1/16 of the principal will be paid off at the end of each year). The loan carries an interest rate of 7.72% Interest accrued will be paid off at the end of every year. The building has an expected life of 35 years, a salvage value of $217,980 and will be depreciated using the straight-line method Nov. 2: Billy Bob hires Biker Betty for promotional purposes. He estimates her salary to be $12/hour. She will probably work 32 hours this month. 3. 4. S. Nov. 3: Billy Bob purchased 47 bikes from Paul's Choppers. Each bike cost $3,850 and the credit terms are 2/10,n/30 (Note: Bikes are considered Inventory) Nov. 3. Paul's Choppers paid FedEx $9,871 cash to ship the bikes to Billy Bob Nov. 5: Billy Bob sold 28 bikes to Bikes R Us for 58,800 each with credit terms of 3/15. 11/30. The total cost of the bikes was figured out to be $105,950 6 7 Nov. 5. Billy Bob paid UPS $5,645 cash to ship the bikes to Bikes R' Us Nov 7: Billy Bob retumed 2 of the bikes he purchased from Paul's Choppers 8 9 Nov: 7: Paul's Choppers paid FedEx $324 cash to have the returned bikes shipped back to him 10. Nov 8 Stockholder's invest $234,567 in exchange for Billy Bob's Bikes common stock 11. Nov 9. Bikes R Us retumed 3 of the bikes they purchased from Billy Bob The cost of the bikes to Billy Bob was figured out to be S11,550. 12. Nov. 9. Bikes R Us paid FedEx $421 cash to have the bikes retumed 13. Nov. 11: Billy Bob paid of the balance due from Paul's Choppers 14. Nov. 12: Billy Bob purchased 36 more bikes from Paul's Choppers. Each bike cost $3.875 and the credit terms are 1/20, 1/60 15. Nov. 12: Billy Bob paid UPS $6,999 cash to ship the bikes he bought from Paul's Choppers 16. Nov. 14: Bikes R. Lis paid his balance of for the bikes he purchased. 17. Nov. 15: Billy Bob sold 51 bikes to Biker's Bargains for $8.700 each with credit terms of 2/10 EOM,n/75. The cost of the bikes was determined to be $200,949. 18. Nov. 15: Billy Bob paid FedEx S11,111 to have the bikes shipped to them

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