Kids Reads Inc. (KRI) is a book retailer that specializes in childrens books and follows ASPE for reporting purposes. KRI also prints and produces several childrens books. During the past four months, there have been some out-of-the-ordinary transactions that have yet to be recorded. Jacqueline Lawrence, CPA, has recently been hired to help in the accounting department to assist Dianne Salzbury, the CFO. The following information has been gathered: Appendix I: Email from Dianne Salzbury Appendix II: Copy of extract from appraisal report from Phillips Appraisal Corporation Appendix III: Extract from the board of director`s meeting on April 3, Year 1 Dianne Salzburg, CFO, Kids Reads Inc. (KRI) To: Jacqueline Lawrence Subject: Transactions Dear Jacqueline, Below are the transactions that require journal entries. 1.On February 3, Year 1, we received a quote for software development services from Lindbold's Website Design (LWD) totalling $9,200, which is in line with similar quotes received. After discussions, KRI agreed to give boxes of high-end glossy paper to LWD and in return, LWD agreed to provide these services. The software will be designed to allow customers to order books online, which will expand KRI's sales. Currently, this paper is in our inventory at a cost