set up the T-acxounts and also the dates

Check my Fast Deliveries, Incorporated (FDI), was organized in December last year and had limited activity last year. The resulting balance sheet at the beginning of the current year is provided below: Assets: Cash Accounts Receivable Supplies FAST DELIVERIES, INCORPORATED Balance Sheet at January Liabilities: $ 10,500 Accounts Payable 880 Stockholders' Equity: 750 Common Stock Retained Earnings $ 12,130 Total Liabilities and Stockholders' Equity $ 400 Total Assets 11,510 220 $ 12,130 Two employees have been hired, at a monthly salary of $2,540 each. The following transactions occurred during January of the current year. January 1 ) 2 Ora 98 $5,100 is paid for 12 months' insurance starting January 1. (Record as an asset. $4,800 is paid for 12 months of rent beginning January 1. (Record as an asset.) FDI borrows $34,800 cash from First State Bank at 4% annual interest; this note is payable in two years. A delivery van is purchased using cash. Including tax, the total cost was $24,000. Stockholders contribute $8,000 of additional cash to FDI for its common stock. Additional supplies costing $1,500 are purchased on account and received. $400 of accounts receivable arising from last year's December sales are collected. $300 of accounts payable from December of last year are paid. Performed services for customers on account. Sent invoices totaling $11,800. $7,600 of services are performed for customers who paid immediately in cash. $2,540 of salaries are paid for the first half of the month. FDI receives $3,800 cash from a customer for an advance order for services to be provided later in January and in February. $4,800 is collected from customers on account see January 9 transaction). 10 16 20 25 NOIILIT 20 FDI receives $3,800 cash from a customer for an advance order for services to be provided later in January and in February. $4,800 is collected from customers on account (see January 9 transaction). 25 January 31a. 31b. 31c. 31d. Additional information for adjusting entries: A $900 bill arrives for January utility services. Payment is due February 15. Supplies on hand on January 31 are counted and determined to have cost $210. As of January 31, FDI had completed 60% of the deliveries for the customer who paid in advance on January 20. Accrue one month of interest on the bank loan. Yearly interest is determined by multiplying the amount borrowed by the annual interest rate (expressed as 0.04). For convenience, calculate January interest as one-twelfth of the annual interest. Assume the van will be used for 4 years, after which it will have no value. Thus, each year, one-fourth of the vans benefits will be used up, which implies annual depreciation equal to one-fourth of the van's total cost. Record depreciation for the month of January, equal to one-twelfth of the annual depreciation expense. Salaries earned by employees for the period from January 16 to 31 are $1,270 per employee and will be paid on February 3. Adjust the prepaid asset accounts for rent and insurance) as needed. 31e. 31f. 31g. T accounts. Set up T-accounts for the accounts on the trial balance. Enter beginning balances and post the transactions from January 1-25. Then post the adjusting journal entries from January 31. (Do not round intermediate calculations.) Cash Accounts Receivable credit Credit 10,500 Debit Beginning Balance January 9 880 34,800 11,800 400 January 7 4,800 January 25 Debit Beginning Balance January 3 January 5 January 7 January 10 January 20 January 25 8,000 400 5,100 January 1 4,800 January 2 24,000 January 4 300 (January 8 2,540 January 16 7,600 3,800 4,800 33,160 Ending Balance 7,480 Ending Balance Supplies Prepaid Insurance Credit Debit Credit Debit Beginning Balance January 6 750 Beginning Balance January 1 1,500 2,040 January 31b January 319 Ending Balance 210 Ending Balance Prepaid Rent Vehicles Debit Credit Debit Credit 4,800 Beginning Balance Beginning Balance January 2 400 January 31g Ending Balance 4,400 Ending Balance Accumulated Depreciation Accounts Payable Debit Credit Debit Credit Beginning Balance 500 400 Beginning Balance January 8 January 31e 500 1,500 January 6 500 Ending Balance 600 Ending Balance Deferred Revenue Notes Payable (long-term) Credit Debit Credit Debit Beginning Balance Beginning Balance January 31c January 20 0 Ending Balance Ending Balance Interest Payable Salaries and Wages Payable Debit Credit Debit Credit Beginning Balance Beginning Balance January 31d Ending Balance Ending Balance Common Stock Retained Earnings Credit Debit Debit Credit Beginning Balance Beginning Balance January 5 Ending Balance Ending Balance IVANAS Synense Service Revenue Debit Credit Salaries and Wages Expense Debit Credit Beginning Balance Beginning Balance January 9 January 10 January 31c Ending Balance Ending Balance Utilities Expense Supplies Expenses Debit Credit Debit Credit Beginning Balance Beginning Balance January 31a Ending Balance Ending Balance Interest Expense Insurance Expenses Debit Credit Debit Credit Beginning Balance Beginning Balance January 31d Ending Balance Ending Balance Rent Expense Depreciation Expense Credit Credit Debit Beginning Balance January 31g Debit Beginning Balance Ending Balance Ending Balance