Prepare the journal entries for the following(*****Look toward the end of the question aty the bolded parts)

11/1 Invested $25,000 cash to start company 11/4 Paid $6,000 cash for first 6 months building rent 11/5 Paid $12,500 cash to have store built out. 11/7 Purchased cash register system for $750 cash 11/8 Purchased tables and chairs for customer seating $4,250 cash 11/8 Purchased 8 coffee makers for $6,250 on account, 30 day terms 11/9 Borrowed $55,000 from bank on note 6% interest, 4 years to repay 11/9 Purchased display case/counter for $2,735 cash 11/10 Issued purchase order #100 for 20 lbs of ground coffee for $350 11/11 Purchased to go Coffee Cups and Lids from supplier for $560 on account 11/12 Purchased in store Coffee Cups and stir sticks from supplier for $910 on account 11/13 Purchased Gourmet Cubed Sugar for $200 on account 11/14 Obtained a company credit card with credit limit of $10,000 11/15 Received coffee purchased on PO #100 11/16 Issued a purchase order for 50 lbs of coffee beans for $525 11/17 Purchased coffee bean grinder for $1,285 cash 11/18 Purchased 3 espresso machines for $850 cash each 11/19 Purchased signs for store $1,735 cash 11/25 Paid for new speaker system and installation in store $4,350 cash 11/28 Paid $1,850 cash for shelves for store

12/6 Received $9,000 of merchandise for resale on account. Terms 1/10, Net 30. Gross method was used 12/7 Sold $1,120 of merchandise on account to a customer terms 2/10, Net 30. 12/8 Returned $180 of the merchandise received on the 6th 12/8 Purchased an insurance policy for $3,600 covering 12 months.

12/8 Made cash sales of $9,555 during the week.

12/15 Staff wages were $7,510 for the two weeks up to and including yesterday. Wages are paid on the first Friday after the pay period ends. 12/16 Sold merchandise on account for $2,060 terms 1/10, Net 30. The Net Method was used. 12/17 Customers paid for merchandise purchased on the 7th. 12/21 Customer returned $380 of merchandise from the sale on the 16th. 12/21 Received a purchase order for Gourmet Coffee from Quickbolt Coffee for $500 . Created a corresponding sales order to deliver.

12/22 Delivered Gourmet Coffee for $500, Invoice No. 204, which was ordered on the 21st 12/22 Made cash sales of $9,252 during the week. 12/23 Paid $900 owed for supplies purchased earlier, Check No. 908. 12/23 Ordered Organic Chocolate Cream Liqueur for $155. 12/23 Paid the staff wages of $7,510 for the period ending 1 week ago, Check No. 910 12/24 Received Organic Chocolate Cream Liqueur for $155, which was ordered on the 28th 12/25 Quick Bolt Coffee paid the full amount owing on their account $500. 12/25 Made cash sales of $7,629 during the last 5 days of the month. Transactions 12/8 Made cash sales of $9,555 during the week. 12/27 Paid $500 for supplies purchased on account earlier in the month, Check No. 900. 12/28 Received a $633 bill for utilities. 12/29 Purchased Gourmet Cream with cash for $220, Check No. 902. 12/31 Made cash sales of $6,961 during the last 6 days of the month. 12/31 Sold 5 bags of Medium Roast Arabica Coffee Beans on account for $287 each, Invoice No. 201.

After reviewing the unadjusted Trial Balance it was discovered that supplies received on Jan. 5th totaling $25,000 were not recorded. It was also discovered an insurance policy for the year costing $2,400 was purchased on Jan. 5th. After counting the supplies it was determined the value of existing supplies totaled $25,500. Pre-paid insurance of $6,000 was amortized over the 12 month policy period. Interest on the $55,000 6% Note payable was accrued. Depreciation for Equipment was $1,500 and $1,200 for the Leasehold Improvements. Estimated uncollectible accounts receivable are $500 The monthly sales managers salary is $5,200. Salaries are paid the first Friday after the pay period ends