In-Class Case #10A Chapter 10 Nevin Company completed the following selected transactions during the current year. It operates on a calendar year. Jan. 8 Jan. 17 Apr. 1 June 3 July 5 Aug. 1 Purchased inventory on account at an invoice cost of $14,860; assume a perpetua inventory system. Paid January 8 invoice. Borrowed $35,000 from National Bank for general use on a 12-month, 8% interest-bearing note payable. Purchased inventory on account at an invoice cost of $17,420; assume a perpetua inventory system. Paid June 3 invoice. Rented a small office in their building to a customer. Collected six months' rent revenue in advance amounting to $6,000. Received a $100 deposit from a customer as a guarantee to return a large trailer borrowed for 30 days. Deposit will be returned when customer returns trailer. Determined wages of $9,500 earned but not yet paid on December 31 (omit payroll taxes). Dec. 20 Dec. 31 Required 1. Prepare journal entries for the above transactions. 2. Prepare all necessary adjusting entries at year-end regarding the above transactions