Question: I need help journalizing these transactions. Please try to do every date, even the no entries because that is what i'm most confused on. thank

I need help journalizing these transactions. Please try to do every date, even the "no entries" because that is what i'm most confused on. thank you.
I need help journalizing these transactions. Please try to do every date,

Billy Bob's Bikes Transactions 8. Now 1 Billy Bob puid in advance for an 8-month insurance policy, which will begin today. He paid $3,856 cash for the policy Nov 1: Billy Bob purchased a building for $967.260 using $127.260 cash and then borrowing the rest from the bank. The loan from the bank will be paid off over the next 16 years (1/16 of the principal will be paid off at the end of each year). The loan carries an interest rate of 7.72%. Interest accrued will be paid off at the end of every year. The building has an expected life of 35 years, a salvage value of $217,980 and will be depreciated using the straight-line method. Nov. 2- Billy Bob hires Biker Betty for promotional purposes. He estimates her salary to be S12/hour. She will probably work 32 hours this month. Nov. 3: Billy Bob purchased 47 bikes from Paul's Choppers. Each bike cost $3,850 and the credit terms are 2/10,n30. (Note: Bikes are considered Inventory) Nov. 3: Paul's Choppers paid FedEx $9,871 cash to ship the bikes to Billy Bob. Nov. 5: Billy Bob sold 28 likes to Bikes R Us for $8,800 each with credit terms of 3/15, 1/30. The total cost of the bikes was figured out to be $105.950. Nov. S: Billy Bob paid UPS 55,645 cash to ship the bikes to Bikes R' Us. Nov. 7: Billy Bob retumed 2 of the bikes he purchased from Paul's Choppers. Nov. 7: Paul's Choppers paid FedEx $324 cash to have the returned bikes shipped back to him. 10. Nov. 8: Stockholder's invest $234,567 in exchange for Billy Bob's Bikes common stock. Nov 9: Bikes R Us returned 3 of the bikes they purchased from Billy Bob. The cost of the bikes to Billy Bob wis figured out to be $11,550. 12. Nov. 9: Bikes R Us paid FedEx 5421 cash to have the bikes returned. 13. Nov. 11: Billy Bob paid off the balunce due from Paul's Choppers. Nov. 12: Billy Bob purchased 36 more bikes from Paul's Choppers. Each bike cost $3,875 and the credit terms are 1.20, 1/60 15 Nov 2: Billy Bob paid UPS $6,999 cash to ship the bikes he bought from Paul's Choppers. 16. Nov. 14: Bikes R Us paid his balance off for the bikes be purchased. 17. Nov. 15: Billy Bob sold 51 bikes to Biker's Bargains for $8,700 cach with credit terms of 2/10 EOM. 1/7. The cost of the bikes was determined to be $200,949. 18 Nov. 15: Billy Bob paid FedEx $11.111 to have the bikes shipped to them. LI 14

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