Construct t a general general based off of the tabel$/$table$[[$Year $1$ Transactions for Andover$],[$Transaction #$,$Date,Event$],[1,$January $1,$Paid $$14,750$ cash for supplies.$],[2,$February $28,$Acquired land in exchange for $$26,250$ cash.$],[3,$April $1,$Issued $7,000$ shares of common stock for $$6$ per share.$],[4,$April $1,$Paid $$12,000$ cash for an "other long term asset".$],[5,$April $1,$Prepaid $$36,000$ cash for a rental that will be used over the next $12$ months.$],[6,$May $1,$Received $$49,200$ cash in advance for services that will be provided equally over $6$ months beginning on November $1$ st of Year $1.],[7,$June $1,$Sold inventory on account for $$165,000($a$).$ The cost of the inventory was $$15,500($b$).$ Also, paid a sales commission of $$13,300$ cash $($c$).],[8,$June $15,$Purchased inventory for $$24,000$ by paying $$4,000$ cash and recording an Accounts Payable for the remaining balance.$],[9,$June $30,$Paid the Year $0$ income tax liability.$],[10,$July $31,$Received $$42,000$ cash from customers with outstanding Accounts Receivable balances.$],[11,$July $31,$Paid the Accounts Payable from the June $15$ th transaction.$],[12,$Sept $30,$Paid $$22,000$ cash for expenses related to a new product. Of this, $$15,300$ was for Research and Development $($a$)$ and $$6,700$ was for marketing $($b$).],[13$ a$,$October $1.,$Purchased inventory for $$10,700$ cash. The accountant accidently increased the Supplies account instead of the appropriate account.$],[13$ b$,$October $1,$The accountant recorded an adjustment for the error made in $13$a so that the accounts reflect what should have been recorded.$],[14,$October $1,$Borrowed $$72,000$ from a bank for a $4-$year, $10\%$ note. Interest is recorded on Dec. $31$ st and will be paid in the subsequent year.$],[15,$Dec $15,$Salaries for employees were $$46,000$ for the year. Half were paid on Dec. $15$ th$,$ and the other half will be paid in January of Year $2.],[16,$Dec $31,$Income tax expense for the year was $$15,200,$ of which $$6,500$ was paid on Dec. $31$ st$.$ The rest will be paid in April of Year $2.],[17,$Dec $31,$Record the appropriate adjusting entry related to the note payable described in Transaction #$14($assuming interest will be paid in Year $2).],[18,$Dec$31,$Record the appropriate entry to adjust the rent account from Transaction #$5.],[19,$Dec $31,$Record the appropriate entry to adjust unearned revenue from Transaction #$6],[20,$Dec $31,$At the end of the year, there are $$1,400$ of supplies left on hand. Record the appropriate adjusting entry to reflect the supplies used during Year $1.]]$