Pen Station is a stationery shop in the town if Upper Hand serving individuals and small businesses in the local community.Two Bentley University graduates founded the company and issued $$75,000$ of stock in January $2023.$ Your mission is to assist Jordan with these transactions and to prepare financial statements for the month of December $2023.$

Pen Station

REGULAR TRANSACTIONS NOT RECORDED YET:

TRANSACTION $1$ Pen Station sent promotion flyers worth $$1,800$ to potential customers in the area. They sent them out in December $2023,$ and paid immediately.

TRANSACTION $2$ Upper Hand's Lonely Hearts Club meets in the shop once a week after hours. They signed an agreement for $12$ months, starting on January $1,2024,$ and paid the whole amount of $$36,000$ in December $2023.$

TRANSACTION $3$ Pen Station bought a new insurance policy for the year of $2024($January $1-$ December $31),$ and paid $$6,000$ in cash.

TRANSACTION $4$ Cleaning and decorating supplies for the office amounting to $$750$ have been purchased and used up in December $2023.$

TRANSACTION $5$ On December $18$ a customer brought a $$4,200$ payment for his November purchase, but Pen Station did not record it yet.

ADJUSTING TRANSACTIONS:

NOTE: All prior months' adjustements have been properly recorded. Only adjustments listed below need to be recorded for December.

TRANSACTION $1$ Pen Station's payroll for a full, five$-$day week is $$5,000.$ Employees receive the paychecks at the beginning of next week. There has been four more workdays in $2023$ after the last paychecks were issued.

TRANSACTION $2$ The December $2023$ rent is $$4,500.$ It was pre$-$paid in November.

TRANSACTION $3$ Pen Station invited $1-2-$Tree Company to set up seasonal decorations. They visited the office on December $2,2023,$ and left an invoice for $$450.$ The payment is not due until late January.

TRANSACTION $4$ The last customer of the year just purchased $$4,500$ worth of stationery. Pen Station needs to issue an invoice with due date in February $2024.$

TRANSACTION $5$ While reviewing the unearned revenue balance and sales records, Jordan found that $$12,500$ of the balance was earned during December $2023,$ but has not been recorded yet.