Make a list of journal entries and trial balance where debits equal credits using the follwoiung economic events:

$1-$Jan Five individuals each invested $$50,000$ to establish the corporation. Each individual received $10,000$ shares with a $$0\mathrm{.}25$ par.

$1-$Feb With the money, managers purchased a new building to use as retail space for $$100,000$ and furniture worth $$20,000$

$1-$Feb Management also purchased a $1-$year property insurance policy, paying $$2,500.$

$15-$Feb After negotiating with suppliers, Montana bought $500$ units of inventory for $$10$ each, on account.

$10-$Mar The storefront opened and Montana had $$2,500$ in sales on account. They sold $100$ units in their grand opening.

$25-$Mar Montana also provides services to customers. A customer pays $$1000$ for services to be provided by the end of the year.

$8-$Apr Montana pays for half of the quantity of inventory purchased from its supplier.

$20-$Jun Montana receives $$1000$ of the amount owed from customers from opening day sales.

$31-$Jul Montana declares a dividend of $$1/$share to its owners.

$1-$Aug Montana issues a bond. It is issued at a stated rate of $5\%($paid annually on $8/1)$ with a maturity in $5$ years and a face value of $$100,000.$ The current market rate is $7\%$ and the proceeds from the issuance are $$91,800.$

$10-$Oct Montana repurchases $1,000$ outstanding shares for $$3/$share

$1-$Nov Montana buys a used delivery truck for $$15,000.$ The truck already has $100,000$ miles on it at the time of the purchase.

Additionally, consider the following facts as you consider period end adjusting entries.

Depreciation for the retail space is estimated based on a $10$ year useful life, a residual value of $$20,000$ and a straight$-$line method.

Depreciation for the furniture is estimated based on a $3$ year useful life, a residual value of $$0,$ and a straight$-$line method.

Depreciation for the delivery truck is based on a straight line method. Total expected mileage for the truck is expected to be $250,000$ miles, residual is estimated at $$5,000$ and the useful life is expected to be $5$ years.

Montana performed $50\%$ of the services from the transaction on $3/25$

Montana accrues bond interest at the end of the year and amortizes any bond premium or discount on a straight line