Problem Points$)$

Select transactions of Lizard Office Depot during $2023$ are as follows. Lizard is a retailer that sells computers and office equipment.

January $5-$ Purchased $200$ computers at $$600$ each on account from Boston Company for $$120,000$; terms $\frac{2}{10},\frac{n}{30}.$ The company uses the perpetual inventory system and accounts for discounts using the gross method. No sales taxes are assessed on the purchases of inventory to be resold.

February $5-$ Paid January $5$ invoice.

March $1-$ Sold $100$ computers $($purchased on January $5)$ with a one$-$year assurance$-$type warranty for $$1,000$ each on account. Past experience indicates that warranty costs average $$125$ per computer. All of the computers sold are subject to $6\%$ sales tax.

April $30-$ Paid the sales taxes collected on March $1.$

July $1-$ Sold $$20,000$ of gift cards and received cash.

November $2-$Received $$500$ from Care Mill Playhouse as a deposit for ten computers to be shipped on January $7,2024.$

November $1-$ Purchased a van at a cost of $$18,000.$ The company paid $$5,000$ in cash and issued a $5\%,$ four$-$year interest$-$bearing note for the balance due. The van has a salvage value of $$2,000$ and a useful life of $6$ years. The company uses the straight$-$line depreciation method.

November $20-$ Paid $$450$ cash in fulfillment of warranty agreement on several of the computers sold on March $1.$

Instructions: Prepare journal entries to record the preceding transactions from $2023,$ including any required adjusting entries at December $31,2023.$ Round all calculations to the nearest dollar.