yea Date Apr. Transaction 1 Purchased a delivery van for $10,000, paying $1,000 down, and issuing a 1-year, 12% note payable for the $9,000 balance. It is estimated that the van has a 4-year life and an $800 residual value; the company uses straight-line depreciation. The interest on the note will be paid on the maturity date. May 15 Purchased $830 of office supplies. June Aug 2 1 Sept. 15 Nov Purchased a 2-year comprehensive insurance policy for $960. Received 6 months' rent in advance at $260 per month and recorded the $1,560 receipt as Rent Revenue. Advanced $600 to sales personnel to cover their future travel costs. 1 Accepted a $6,000, 6-month, 12% (annual rate) note receivable from a customer, the interest to be collected when the note is collected. The following information also is available: 1. On January 1, the Office Supplies account had a $250 balance. On December 31, an inventory count showed $190 of office supplies on hand.