Inc. (FFD) was resulting balance sheet at the beginning of 2012 Is provided below in December of 2011. it had limited activity in 2011. The Fast Balance Sheet Llabilities: Cash 1,100 Stockholders' Equity 900 Contributed Capital Supplies $2,000 Total Assets $ 3775 January Transactions for Francine's Fast Deliveries, Inc. (FFD) 2a Supplies are purchased for $1,200 on account. is paid for 12 months beginning January 1: $8,220 (Record as an asset) 2c Rent is pald for 3 months beginning in January: $4,500 (Record as an asset) 2d will be paid $1,710 per month Two 3 FFD borrows $34,000 from 1st State Bank at 6% annual interest. 6 A delvery van is purchased for cash, Including tax the total cost was $57,600. It will be used for 4 years and will be depreciated monthly using straight-line with no salvage value. A full month of will be charged in January. 7 $770 of the 8 $888 of the bles from payable from December are paid services for on account. Mailed invoices totaling $10,800 16 Wages for the first half of the month are paid on January 16: $1,710. 20 The company receives $4,100 from a customer for an advance order for services to be provided in 25 s from customers on account (see January 9 transaction): $4,320 30a The last 2 weeks wages earned by employees are $855 per employee and will be paid on February 30b A $1,085 utility bill for January arrived. It is due on February 15. a. Supplies on hand on January 31 total $420. b. The company completed 60% of the deliveries for the customer who paid in advance on January 20. c. Interest is accrued for the bank loan. (Assume a full month for the 1st State Bank loan.) January depreciation e. Adjust the prepaid asset (Rent and Insurance) accounts as needed