PLEASE answer all parts

18) The trial balance of Heach Chairs Inc. at January 1.2021. includes the following account balances: The following is a summary of the transactions for the year: a. Purchase new equipment, $25,000, on account. The company estimates the useful life is 5 . years with no residual value. b. Purchase inventory for $60,000 cash. c. Sell product on account, $65,000. The cost of the product was $40,000. d. Pay annual maintenance on the equipment, $4,000. c. Collect on accounts receivable, $68,000. f. Pay accounts payable, $25,000. g. Purchase supplies for $3,000 cash. h. Purchase postage stamps with a credit card. payable in 2022,$100. Required: I. (22 points) Record each of the transactions listed above. 2. ( 10 points) Record adjusting cntries based on the following information: a . Supplies remaining on hand at the end of the year equal $2.000. Hint. Supplies expense is $1,000. a2. Interest on the note for 2021 is $1,500, payable in 2022 . The principal on the note is payable in 2023. a3. Depreciation on the equipment for 2021 is $5,000. a4. The ending balance of the allowance account should be $1,000. Hinf: Bad debt expense for the year is $700. 3. (22 points) Prepare an adjusted trial balance. Hint: It may be helpful to ure fhe T-aceounts fo track all the changes fournal entries recorded to the accounts for the jear, to help you delernine the