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19. Nov. 16: Billy Bob bought a Bike Making Machine for $428,000 using $68,000 cash and then borrowing the rest from the bank. The loan will be paid off over the next 5 years (1/5 of the principal will be paid at the end of each year). The loan carries an interest rate of 4.34 percent. Interest accrued will be paid off at the end of every year. The Bike Making Machine has an expected life of 7 years, a salvage value of $17,408 and depreciates using the straight-line method. 20. Nov. 18: Billy Bob purchased $5,431 worth of supplies from Olga's Office Supplies paying cash. 21. Nov. 19: Billy Bob's pay period ends and he now owes his employees $6,451 in salaries. These salaries will be paid on November 25th. 22. Nov. 20: Billy Bob returned 4 of the bikes he bought from Paul's Choppers. They credited $15,500 to his account. 23. Nov. 20: Paul's Choppers paid UPS $555 to have the bikes shipped back to him. 24. Nov. 21: Billy Bob's Bikes paid cash dividends of $28,989. 25. Nov. 22: Billy Bob purchased 24 bikes from Carly's Cars. Each bike cost $3,899 and the credit terms are 2/10 EOM, n/90. 26. Nov. 22: Billy Bob paid UPS $5,432 to have the bikes shipped to him. 27. Nov. 23: Biker's Bargains returned two of the bikes they bought of Billy Bob because parts were falling off them. The cost of the bikes to Billy Bob was figured out to be $7,825. 28. Nov. 23: Biker's Bargains paid FedEx $295 to have the bikes shipped back to him. 29. Nov. 25: Billy Bob paid his employees for the period ended November 19th