Office supplies: Periodic, FIFO. Ending balance is 5250. Pay period is every 2 weeks. Last pay period ended December 27. o 60 employees with a daily pay of $5,700. All receive pay through December 31. Financing: 0 6% interest note payable was made on January 31, 2017, and is due February 1, 2019. o 5year loan was made on June 1, 2017. Terms are 7.5% annual rate, interest only until due date. Insurance: Annual policy covers 12 months, purchased in February, covering March 2017 February 2018. No monthly adjustments have been made