The Havelack Company is a retail company that began operations on October 1. 2018 when it incorporated in the state of North Carolina The Havelock Company is authorized to issue 250.000 shares of $1 par value common stock and 70,000 shares of 8%. S40 par value preferred stock. The company sels a product that ncludes one-year warranty and reoord estimated warranty payable each month. Customers are charged a 7% state sales tax. The company uses a perpetual inventory system There are three employees that are paid a monthly salary on the last day of the month. Following is the chart of accounts for The Havelock Company. As a new business, all beginning balances are S0 Click he co to vew the chart of accounts. The Havelock Company completed the following transaotions during the last quarter of 2018, its first year of operatio (Click the icon to view the transactions.) Read the requirements cash 7.700 Dec. 15: Sold 350 shares of tressury stock for $19 per share Date Accounts and Explanation Debit Credit Dec. 15 cash 6,650 treasury stock-common 4.550 Paid-in Capital from Treasury Stock Transactions 2.100 Dea. 16: Paid all liabilities associated with the November 30 payroll. (Enter all amounts to the nearest dollar.) Date Accounts and Explanation Debit Credit FICA -OASDI Taxes Payable FICA-Medicare Taxes Payable State Unemployment Taxes Payable Federal Unemployment Taxes Payable Employee Income Taxes Payable Employee Health Insurance Paysble cash Dec. 15 335 37 3,285 375 The Havelack Company is a retail company that began operations on October 1. 2018 when it incorporated in the state of North Carolina The Havelock Company is authorized to issue 250.000 shares of $1 par value common stock and 70,000 shares of 8%. S40 par value preferred stock. The company sels a product that ncludes one-year warranty and reoord estimated warranty payable each month. Customers are charged a 7% state sales tax. The company uses a perpetual inventory system There are three employees that are paid a monthly salary on the last day of the month. Following is the chart of accounts for The Havelock Company. As a new business, all beginning balances are S0 Click he co to vew the chart of accounts. The Havelock Company completed the following transaotions during the last quarter of 2018, its first year of operatio (Click the icon to view the transactions.) Read the requirements cash 7.700 Dec. 15: Sold 350 shares of tressury stock for $19 per share Date Accounts and Explanation Debit Credit Dec. 15 cash 6,650 treasury stock-common 4.550 Paid-in Capital from Treasury Stock Transactions 2.100 Dea. 16: Paid all liabilities associated with the November 30 payroll. (Enter all amounts to the nearest dollar.) Date Accounts and Explanation Debit Credit FICA -OASDI Taxes Payable FICA-Medicare Taxes Payable State Unemployment Taxes Payable Federal Unemployment Taxes Payable Employee Income Taxes Payable Employee Health Insurance Paysble cash Dec. 15 335 37 3,285 375