Regular transactions that the former accountant has not recorded in the accounting records: 1. December 1, 2020, issued 1,000 common shares for $10,000. After this issuance, there are 21,000 shares issued (i.e., 20,000 shares issued on January 1, 2020, and these 1,000 shares). 2. December 27, 2020, received $7,000 from a customer for the amount owed on their account. 3. December 30, 2020, purchased inventory on account for $25,000. 4. December 31, 2020, borrowed $10,000 by signing a Note Payable to Border Credit Union. Interest of 6% per annum. The principal is to be paid on December 31, 2021. 5. December 31, 2020, paid $6,000 (Cheque #451) to the supplier of inventory purchased on December 30 (see Transaction #3 above). 6. December 31, 2020, cash sales for the day of $2,000 was deposited in the bank. The cost of inventory for these sales was $900. 7. December 31, 2020, declared dividends of $8,000 payable on January 10, 2021