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need help with the balance sheet. Al the beginning of December, Madison finds out that Batter Blender Supply Co . has raised the cost of

need help with the balance sheet.
Al the beginning of December, Madison finds out that Batter Blender Supply Co. has raised the cost of their mixers 10 $ 615 each, so she will only make one more purchase from them this month. She was ucky enough to find comparable mixers at Garcia Co. a local manufacturer, so she has signed a contract to buy mixers from them this month. Garcia Co. also has a $610 cost for each mixer. She still plans to sell them for $1,200. Madison is rumning out of storage space in her smal apartment, so she decides to rent a small office space to hold all of her supplies and inventory. Rent is due at the beginning of each month.
The following transactions occurred during the month of December.
Dec. 1 Paid $700 rent for the month of December. Check 166.
2 Purchased three mixers on account from Batter Blender Supply Co. For $1,845, terms n/30.
4 Paid $45 freight for the December 2 purchase. Check 167.
6. Sold three mixers for $3,600 on account to Seafood Shack, invoice 1012, terms N/30.
7 Bought four mixers on account from Garcia Co, for $2,440, terms n/30.
(8) Collected the amount due from Peter's Pastries for the November 23 transaction.
9 Returned one of the mixers purchased on Dec 7? because it was damaged during shipping. Garcia Co issues Sweet Treats credit for the cost of the mixer.
10 Paid Batter Blender the amount due for the December 2 purchase. Check 168.
12 Bought three mixers on account from Garcia Co. for $1,830, terms n/30.
13 Paid $45 freight for the December 7 purchase. Check 169.
16. Three mixers are sold on account for $3,600 to the Chop House, invoice 1013, terms n/30.
16. One mixer is sold to a new customer, Bagel Depot, on account for $1,200, invoice 1014, terms N30.
18 Paid a $75 cell phone bill for December. Check 170.
19 Paid $45 freight for items received on the December 12 purchase. Check 171.
20 Taught a 3hr cupcake making class at Winslow Sweets for $150 per hour. Winslow Sweets paid in full at the end of the class.
20 Paid Garcia Co. the amount due for the December 7 purchase. Check 172.
Collected the amount due from Chop House for the December 16 transaction.
21 Purchased baking supplies for $350 cash. Check 173.
23 Issued a check to Madison's assistant for $960 for the first two weeks in December. Check 174.
23. Two mixers are sold on account for $2,400 to the Chop House, invoice 1015, terms n/30.
24 Taught a 2ht holiday cookie workshop at Young Souls, the local senior center. Madison offered her workshop al a discounted price of $50 per hour. She left invoice 1016 with the director ol Young Souls after the workshop.
26 Collected the amount due from Bagel Depol for the December 16 transadtion.
27 Madison wilhdrew $1,200 cash for personal use. Check 175.
As of December 31, the following adjusting entry dala is available.
Accrued utilities tolal $340 for the current month.
Another month's worth of depreciation needs to be recorded on the baking equipment.
A count reveals that $135 of baking supplies are remaining in the supply room.
Another month's worth of insurance has expired.
Madison owes her assistant $980 for the last two weeks of December, but will not pay it until January 2.
Madison records another month of accuued interest on her grandma's loan.
Al year end, Madison completes all the financial stalements and closes out the year. Madison is making huge strides in her entrepreneurship program by starting up Sweet Treals and she cannot thank her friends and family enough for all their support. In the new year, Madison intends on continuing to sell mixers and provide classes on multiple baking needs. She is even considering attending culinary classes at CNM to learn new things she can incorporale into her business.
Al the beginning of December, Madison finds out that Batter Blender Supply Co. has raised the cost of their mixers 10 $ 615 each, so she will only make one more purchase from them this month. She was ucky enough to find comparable mixers at Garcia Co. a local manufacturer, so she has signed a contract to buy mixers from them this month. Garcia Co. also has a $610 cost for each mixer. She still plans to sell them for $1,200. Madison is rum
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