Summary daily cash sales total $15, 500. On March 1, pay rent of $6,000 for a two-year term. Pay $400 cash for office supplies. Issue a note of $120,000 to bank (one year, annual interest rate 3%) for cash. Pay utitlities expense, $10, 902. On September 1, pay cash $7, 500 to Farmington for merchandise purchased last year. Over the year, sales and office employees earned $45, 500 in salaries and wages, of which $1, 500 was still payable at the end of year