Mary Specs founded her company, Specs in the City, on January $1^{st}2024.$ The annual reporting period ends on December ${31}^{st},2024.$ During $2024,$ the following transactions occurred; assume these were the only transactions in $2024$:

a$.$ On January $1^{st},$ Ms$.$ Specs contributed a building to the business in exchange for $1,000$ shares of $$1$ par value common stock. The value of the building at this date was $$100,000,$ and it will be depreciated using the straight$-$line method over a useful life of $20$ years with an estimated residual value of $$10,000.($HINT: The building is an asset the company receives for issuing stock, similar to cash$).$

b$.$ The same day, January $1^{st},$ Ms$.$ Specs determined that the company needed some working capital. Specs in the City issued a $8$ year bond payable with a $$100,000$ face value which will pay interest annually $($i$.$e$.,$ one time per year$),$ and carry a stated rate of $6\%.$ The market rate of interest for similar bonds is $5\%.$ The first interest payment will be made on December ${31}^{st},2024.$

c$.$ On February ${12}^{th},$ Specs in the City purchased $250$ pairs of sunglasses for $$110$ each on account. Specs in the City classifies sunglasses as inventory.

d$.$ On April ${19}^{th},$ Specs in the City purchased equipment which automatically cycles through displayed sunglasses as a customer makes their selection, paying $$15,000$ in cash. The equipment will be depreciated using the units$-$of$-$production method with a useful life of $100,000$ cycles and no residual value.

e$.$ On May ${20}^{th},$ Specs in the City purchased $150$ pairs of sunglasses for $$100$ each in cash.

f$.$ On July ${16}^{th},$ Specs in the City sold $200$ pairs of sunglasses for $$200$ each on account with terms $\frac{2}{10},\frac{n}{30}.$ To recognize cost of goods sold, Specs in the City uses the weighted$-$average cost method.

g$.$ On July ${20}^{th},$ Ms$.$ Specs learned that a customer who owed $$1,000$ from the sale made on July ${16}^{th}$ in $($f$)$ had filed for bankruptcy, so Specs in the City wrote off the account.

h$.$ On July ${31}^{st},$ Specs in the City received payment for the remaining portion of the sale made in $($f$)$ on July ${16}^{th}.$

i$.$ On September ${10}^{th},$ Specs in the City received payment for $150$ pairs of sunglasses costing $$200$ each, but did not yet deliver the sunglasses to the customer. The customer will pick up the sunglasses next month.

j$.$ On October ${18}^{th},$ the customer who paid for the sunglasses in $($i$)$ on September ${10}^{th}$ picked up their order.

k$.$ After producing $2,000$ cycles during $2024,$ the equipment purchased in $($d$)$ was sold for $$17,000$ cash on December ${31}^{st}$ when a wealthy customer determined that they "had to have it$!"$

Record journal entries for Specs in the City as appropriate.

$($PV table, PVA table$)$