Macon Machines Company began operations on November $1,2024.$ The main operating goal of the company is to sell high end $920647802$ robots. Customers may pay using cash or if appropriate, credit is extended to customers with terms $3/15,$ n$/30.$Company Name: The company uses the perpetual inventory method and a FIFO cost system. The company follows a calendar year, with all Macon Machinesadjusting entries made at the end of the accounting period, December $31.$ The company uses the straight$-$line depreciationProduct Sold: for all depreciable assets. The company has decided to use the Allowance method to account for uncollectible accounts. At robotsthe end of the period, based on industry standards, the company believes $2\%$ of the balance in accounts recievable will be uncollectible. The company purchases robots for resale only as such they carry them as inventory. The company has two employees, one is a sales technician, salary of $$4000$ per month and the other employee is the office manager with a salary of $$7000$ per month. Payroll is processed on the last day of the month, and paid on the first day of the following month. This means the November $30$ payroll with accrue into Salaries Payable and then be paid on Decemember $1.$ Required:

$1)$ Make sure your student ID is correct, this will change the information. Macon Machines Company engaged in the following transactions for November and December. Record the following transactions on the Daily Transactions tab.

Note: Place debits first, credits second but do NOT indent credits. If more than one debit or credit, please list in alphabetical order to receive full credit. Round to the penny unless otherwise noted.

$1-$NovThe owner invested $$200000$ into the company in exchange for $5,000$ shares of common stock. $1-$Nov

The company purchased a computer system for $$60000$ and signed a one$-$year note for the entire balance. The note is due on November $1,2025$ and has an annual rate of interest of $3\%.$

$2-$NovPaid for two years rent on the office space, $$4000.3-$NovPurchased $10$ robots at a total cost of $$1500$ each for cash, FOB Destination. $4-$NovPurchased $$750$ of supplies on account, term n$/30.15-$Nov

Purchased $12$ robots at a total cost of $$1650$ each on account, terms n$/30,$ FOB Destination. Shipping of $$150$ was paid to the shipping company by the appropriate party.

$17-$NovPaid for the supplies purchased on November $4.18-$NovPaid for a two$-$year insurance policy for the store, $$6000.$ The policy was effective beginning December $1,2024.20-$Nov

Sold $15$ robots for $$5000$ each on account, terms $3/15,$ n$/30,$ the company uses FIFO to find the cost of goods sold. The robots were shipped FOB Shipping Point. Record the sales revenue first.

$28-$NovReceived payment in full on account from the November $20$ sale. $29-$NovPaid for November's utilities bill $$2000.30-$Nov

Prepared payroll for the month of November, the first payroll for the company. Record the Salares Expense entry first. The tax rates are as follows:

Federal Income Tax Rate $15\%.$ NC State Income Tax Rate $10\%.$ FICA Tax Rate $7\mathrm{.}65\%.$ Unemployment Tax Rate $6\%$ on the first $$7000$ of each employees earnings per year. $1-$DecPaid the employees the amount due to them from the November $30$ payroll, taxes will be paid in January. $1-$Dec

The company borrowed $$65000$ from Bank of America by signing a $15-$year, $6\%$ note. The note requires annual payments of $$6693$ beginning December $1,2025.$

$1-$DecPurchased a new delivery truck to save customers on shipping. The total cost of the Delivery Truck was $$70000.4-$DecPaid the amount due from the November $15$ purchase. $5-$DecDeclared and paid $$2000$ in cash dividends to the stockholders of the company. $6-$DecPurchased $$900$ of supplies on account, term n$/30.7-$DecPurchased $20$ robots at a cost of $$1815$ each on account, terms n$/30,$ FOB Destination. $15-$Dec

Sold $22$ robots for $$5500$ each on account, terms $2/10,$ n$/30,$ FOB Shipping Point, the company uses FIFO to find the cost of goods sold. Record the sales revenue first.

$18-$DecPaid for an ad in the local newspaper, $$1500.24-$DecReceived $$44000$ payment for $8$ robots to be shipped on January $8,2025.31-$Dec

Prepared payroll for the month of December, the first payroll for the company. Record the Salaries Expense entry first. The tax rates are as follows:

Federal Income Tax Rate $15\%.$ NC State Income Tax Rate $10\%.$ FICA Tax Rate $7\mathrm{.}65\%.$ Unemployment Tax Rate $6\%$ on the first $$7000$ of each employees earnings per year. $2)$ Post all the Daily Transactions to the Ledger on the Ledger tab.

$3)$ As of December $31,$ a search revealed the following information. Record any necessary adjusting entries for the year on the Adjusting Entries tab.

$1$The computer equipment purchased on November $1$ has a $5-$year life and an expected residual $($salvage$)$ value of $$6000.2$Record any interest that has accrued on the note signed on November $1$ for the computer system. $3$The rent paid on November $2$ is for two years beginning on November $1\mathrm{.}4$The insurance pol