The following events occurred during the ycar. Book the entries necessary for the comesponding transactions that have occurred.

August $1$: The business owner loaned the company $$10,000$ at $4\%$ interest annually to be paid in full in three years.

August $15$: A new one$-$year lease agreement was signed for a new sporting goods store. The rent is $$1,350$ per month for the year. The lease begins on September $1$ and is effective through August $31$ of the next year. A payment of the first month's rent plus a deposit payment of $$2,000$ was made, $($Info only. The deposit remains in Prepaid Rent until the end of the lease$)$

August $31$: Paid $$2,400$ for a $12-$month insurance policy. Policy effective dates are September $1$ through August $31.$

September $1$: Expense September rent paid in August.

September $21$: A part$-$time worker was hired at $$15$ per hour to work the customer service desk. One pay period is the Ist of the month through the $15$ th$,$ and the other is the $16$ th through the end of the month. Paydays are the $20$th for the first pay period and the $5$th of the following month for the second pay period. $($No entry required on this date$-$for informational purposes only.$)$

September $30$: Sold $15$ bicycles on special at $$150$ each and $5$ golf club sets at $$350$ each. The customer put $12\%$ on account and paid cash for the rest.

September $30$: Calculate the payroll accrual for employee's first paycheck for $12$ bours to be delivered on October $5.$

October $1$: Paid October rent on new sporting goods space.

October $5$: Paid employee for period ending September $30.$

October $15$: Collected $$500$ on account from customers.

October $20$: Paid employee with $20$ hours for period ending October $15.$

October $31$: Accrued wages eamed for employee with $15$ hours for period of October $16$ through October $31.$

October $31$: Sold $5$ bicycles at $$170$ each and $15$ golf club sets at $$380$ cach in October with $31\%$ on account.

November $1$: Paid rent on new sporting goods space.

November $5$: Paid employee for period ending October $31.$

November $17$: Collected $$950$ on account from customers.

Nevember $20$: Paid employee with $17$ hours for period ending November $15.$

Nevember $30.$ Accrued wages camed for employce with $22$ hours for period November $16$ through November $30.$

November $30$: Sold $15$ bicycles at $$170$ each and $10$ golf club sets at $$380$ each in November with $28\%$ on account.

December $1$: Paid rent on new sporting goods space.

December $5$: Paid employee for period ending November $30.$

December $18$: Received payments from customers toward accounts receivable in amount of $$1,000.$

December $20$: Paid employce with $16$ hours for period ending December $15.$

December $31$: Accrued wages carned for employce with $18$ hours for period of December $16$ through December $31.$

December $31$: Sold $20$ bicycles at $$180$ each and $5$ golf club scts at $$400$ each in December with $22\%$ on account.

December $31$: Boak expense for insurance daring September $1$December $31.$

Specifically, you must address the following rubric criteria:

Journal Entries Tab

Prepare accurate jourral entries with the correct ledger accounts on the Milestone Journal Entries tab of the workbook. Be sure to refer to the Chart of Accounts tab for the account names when preparing fournalentries. Include the following detalis in your response:

A$.$ Show calculations necessary to prepare the journal entries. Not all journal entries will require a cakulation. Rows with an asterisk require formulas in the debit or credit column.

Prepare journal entries that are complete from the transactions listed in Project One Appendix on the Milestone Journal Entries tab of the workbook. There are a total of $26$ entries.

Inventory Tab

Prepare acourate journal entries with the correct ledger accounts on the Milestone Ifwentory tab of the workbook.

Prepare the worksheet that reflects the products purchased and sold at the new store on the Milestone Imentory tab of the workbook.

Prepare journal entries that are complete from the transactions listed in Project One Appendix on the Milestone Irventory tab of the workbook. There are a total of $18$ entries.