Required: 1) Madison Machines Company engaged in the following transactions for November and December. Record the following transactions on the Daily Transactions tab. Note: Place debits first, credits second but do NOT indent credits. If more than one debit or credit, please list in alphabetical order to receive full credit. 1-Nov The owner invested $100000 into the company in exchange for 5,000 shares of common stock. 1-Nov The company purchased a computer system for $10000 and signed a one-year note for the entire balance. The note is due on November 1, 2024 and has an annual rate of interest of 3%. 2-Nov Paid for two years rent on the office space, $12000. 3-Nov Purchased 10 robots at a total cost of $1000 each for cash, FOB Destination. 4-Nov Purchased $1600 of supplies on account, term n/30. 15-Nov Purchased 12 robots 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, $6000. The policy was effective beginning December 1, 2023. 20-Nov Sold 16 robots for $3100 each on account, terms 3/15, 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. 30-Nov Prepared payroll for the month of November, the first payroll for the company. Record the Salares 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 $7000 of each employees earnings per year. 1-Dec Paid the employees the amount due to them from the November 30 payroll, taxes will be paid in January. 1-Dec The company borrowed $60000 from Bank of America by signing a 10-year, 4% note. The note requires annual payments of $7397 beginning December 1, 2024. 1-Dec Purchased a new delivery truck to save customers on shipping. The total cost of the Delivery Truck was $40000. 4-Dec Paid the amount due from the November 15 purchase. 5-Dec Declared and paid $2000 in cash dividends to the stockholders of the company. 6-Dec Purchased $1100 of supplies on account, term n/30. 7-Dec Purchased 20 robots at a cost of $1210 each on account, terms n/30, FOB Destination. 15-Dec Sold 22 robots for $3410 each on account, terms 2/10, n/30, the company uses FIFO to find the cost of goods sold. Record the sales revenue first. 18-Dec Paid for an ad in the local newspaper, $1500. 24-Dec Received $27280 payment for 8 robots to be shipped on January 8, 2024. 31-Dec Prepared payroll for the month of December, the first payroll for the company. Record the Salaries 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 $7000 of each employees earnings per year.