ransa Asset Shop Equipment Year Current Depreciation Accum Depreciation Book Value 0 0 O 30,000 1 2 3 May 01 May 02 May 02 May 02 4 5 Charles paid the rent on his business location.....$ 1,000.00, check no. 1001, paid to Hysell Realty After this transaction, any payments by check will not refer to the check number. The accountant i to record the transaction using the next available check number. (All payments by this business will be by check.) Charles contributed all remaining fencing materials from his prior business to "Charlie's Fence Emporium. The value of this inventory is calculated to be $14,000.00. Hint... Record this beginning inventory transaction into the account "Merchandise Inventory" Charles purchased office supplies on account from "Front Street Office Supply, for $395.00 A business liability insurance policy was contracted with "Mullin Insurance" for a payment of $ 900.00. This is a six month policy and is paid today. WAMO Radio provided a "Grand Opening" remote broadcast at Charlie's to announce and advertise his new business. The cost is $ 525.00 and is billed for later payment May 02 May 02 Charlie's" purchased a truckload of fencing materials on account for $ 18,375.00 2-10, net 30, from Atlantic Fence, Invoice #54612 terms May 02 May 03 May 03 May 03 May 04 May 05 May 06 Cash sales for the day totaled $ 980.00 plus sales tax. Sales tax in the county that "Charlie's" is located is 7.0%. Ed Chester, owner of "Ed's Pools", reached an agreement with Charles to purchase fencing exclusively from "Charlie's Fence Emporium" for pools he installs. Since Charles will not be collecting from the final retail customer, he will be selling both materials and installations to Ed's" wholesale (no sales tax). Charles shipped and billed "Ed's" $ 1.720 for fencing materials delivered, terms....1-10, net 30, Invoice #1001. Paid for repairs to the truck......$ 425.00 Charlie's" accepts "Visa" bank cards for payment from customers. Today, a customer charged $ 825.00 plus tax. Visa charges a 3% clearing fee. Welding materials were purchased from Carl's Industrial Supply for $310.00.cash. Cash sales for the day totaled $1,750.00 plus sales tax. Charlie decides to sponsor a girl's softball team to promote his business. In order to sponsor a team in Willaby's City League, you must purchases the team T-shirts and hats with your business name and contribute $ 300 to the city. Charlie wrote two checks one to the City of Willaby for the $300 entry fee, and another to Ar's Sports Supply for $ 295 for the shirts and hats page 51