Record the following transactions.

1-Nov The owner invested $70000 into the company in exchange for 5,000 shares of common stock. 1-Nov The company purchased a computer system for $8000 and signed a one-year note for the entire balance. The note is due on November 1, 2023 and has an annual rate of interest of 6% 2-Nov Paid for two years rent on the office space, $19200. 3-Nov Purchased 8 copiers at a total cost of $1000 each for cash, FOB Destination. 4-Nov Purchased $4800 of supplies on account, term n/30. 15-Nov Purchased 6 copiers at a total cost of $1100 each on account, terms n/30, FOB Destination. Shipping of $150 was paid to the shipping company by the appropriate party 17-Nov Paid for the supplies purchased on November 4. 18-Nov Paid for a two-year insurance policy for the store, $2400. The policy was effective beginning December 20-Nov Sold 9 copiers for $3100 each on account, terms 2/10, n/30, the company uses FIFO to find the cost of goods sold. The printers were shipped FOB Shipping Point. Record the sales revenue first. 28-Nov Received payment in full on account from the November 20 sale. 29-Nov Paid for November's utilities bill $1500. Prepared payroll for the month of November, the first payroll for the company. Record the Salaries 30-Nov Expense entry first. The tax rates are as follows: Federal Income Tax Rate -15%. NC State Income Tax Rate - 10%. FICA Tax Rate - 7,65% Unemployment Tax Rate - 6% on the first $7,000 of each employees earnings per year. DR Dats Account 1-Nov CR 70,000 20,000 1-Now 8.000 2-Nor 3-Nov 15-Nov 17 Nov 1 18-Nov 2 20-Now 20 Noy 1 2 28-Nor 5 23-Nor 46 30-Now 45 46 30-Noy AT 29