The following events occurred during the year. Book the entries necessary for the corresponding 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 1 st of the month through the 15 th, and the other is the 16th through the end of the month. Paydays are the 20th for the first pay period and the 5th 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 hours 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 earned 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 each 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. November 20: Paid employee with 17 hours for period ending November 15. November 30: Accrued wages earned for employee 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 employee with 16 hours for period ending December 15. December 31: Accrued wages earned for employee with 18 hours for period of December 16 through December 31. December 31: Sold 20 bicycles at $180 each and 5 golf club sets at $400 each in December with 22% on account. December 31: Book expense for insurance during September 1-December 31. December 31: Accrue for interest from August 1 to December 31 on the loan