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Transaction #1: Date: 1-6 Kevin buys $18,000 of feed grains and mineral supplements for his cattle. Transaction #2: Date: 1-13 Kevin pays $1,200 for his annual fees and membership dues to the professional organizations to which he belongs. Transaction #3: Date: 1-22 Kevin sells weaned calves to a feedlot and receives $65,800. Transaction #4: Date: 1-30 Kevin pay the electric bill in the amount of $3,100. Transaction #5: Date: 2-3 Miller Farms receive a cash payment of $42,000 from its cooperative for pistachios that were delivered last fall. Transaction #6: Date: 2-15 Miller Farms pays cash for $8,700 of gas and diesel from Fresno Fuel Supply. Transaction #7: Date: 2-20 Kevin withdraws $200 from the farms bank account for an anniversary dinner with his wife. Transaction #8: Date: 2/27 Miller Farms receive a loan for $160,000 to purchase 20 acres of adjoining farmland from retiring farm neighbor. The loan is for 12 years and has a 5% annual interest rate. Transaction #9: Date: 3-2 Kevin buys 20 acres of farmland for $160,000 cash. Transaction #10: Date: 3-11 The farm buys $17,400 of feed grain concentrates and supplements. Transaction #11: Date: 3-18 Kevin pays $8,200 to Foothill Machinery Service for equipment repairs. Transaction #12: Date: 3/26 Mr. Miller makes a payment on his 4- year equipment loan. The principal payment is $34,000 and the interest rate is $1,700. Transaction #13: Date: 4-5 Miller Farms purchases a used corn planter for $35,000. Transaction #14: Date: 4-18 Kevin pays the farms income taxes of $27,300. Transaction #15: Date: 4-28 Kevin buys $4,900 worth of corn and alfalfa seed. Transaction #16: Date: 5-9 Kevin receives a $40,000 from his parents estates trust fund. He deposits the money into the farms bank account. Transaction #17: Date: 5-17 Mr. Miller buys $6,300 of fertilizers. Transaction #18: Date: 6-2 Kevin makes his first payment on his real estate loan. The principal payment is $8,000. The interest expense payment must be calculated. Balance = $160,000 Interest Rate = 5% Time Factor = 3/12 (i.e., 3 out of 12 months) Transaction #19: Date: 6/14 Miller Farms receives a payment $50,000 from a class action lawsuit settlement from Rotten Seed Company for being sold tainted seeds in 2015. Transaction #20: Date: 6-29 Kevin pays Miller Farms employee Selena Jimenez $30,000 in wages. From this amount, Kevin must withhold 15% for Selenas income tax obligations. Transaction #21: Date: 6-30 Kevin pays Miller Farms payroll taxes associated with their employees wages. The payroll tax expense rate is 10% of the gross wages paid to Selena. Transaction #22: Date: 7-8 Kevins spouse, Lucinda, deposits a $7,600 commission check from her job as a real estate agent into the farms checking account. Transaction #23: Date: 7-12 Kevin pays a veterinarian $9,200 for various animal check- ups, treatments, medicines, and vaccinations for his cattle. Transaction #24: Date: 7-21 Kevin pays $4,800 for the farms electric bill. Transaction #25: Date: 8-2 Kevin withdraws $5,700 from Miller Farms bank account to go a vacation trip with his wife. Transaction #26: Date: 8-15 Miller Farm sells $27,800 of alfalfa to a neighboring farm. Transaction #27: Date: 8/29 Kevin pays $6,500 to Red Neck Repair Company for various building and fencing repairs. Transaction #28: Date: 9-2 Kevin makes his second payment on his real estate loan. The principal payment is $7,800. The interest expense payment must be calculated: Current Balance = $152,000 Interest Rate = 5% Time Factor = 3/12 (i.e., 3 out of 12 months) Transaction #29: Date: 9-9 Kevin pays $7,800 for gas and diesel. Transaction #30: Date: 9-15 Kevin pays off Miller Farms operating loan which originated on November 15, 2022. The principal payment is $40,000. The interest expense payment must be calculated: Current Balance = $40,000 Interest Rate = 3% Time Factor = 10/12 (i.e., 10 out of 12 months) Transaction #31: Date: 9-24 Kevin delivers pistachios to the cooperative. The pistachios have a value of $142,600 and he receives a partial payment of $93,400 in cash. The rest is deferred until February 2025. To prepare this journal entry properly, remember to use cash accounting rules! Transaction #32: Date: 9-30 Kevin purchases a new 12-month insurance policy for Miller Farms from The Umbrella Company. The policy costs $30,000. Transaction #33: Date: 10-5 Kevin pays his veterinarian bill for expenses totally $6,900. Transaction #34: Date: 10-17 Miller Farms receives an operating loan from Farm Financial Services. The loan is for $32,000 and has an annual interest rate of 2.5%. It will be due on August 17, 2024. Transaction #35: Date: 10-22 Kevin sells $14,100 worth of feed corn for cash to a neighboring farmer. Transaction #36: Date: 10-31 Kevin culls his breeding herd. The farm receives $4,800 of cash from the packing house. The culled animals had an original cost of $12,000 and an accumulated depreciation of $7,700. Transaction #37: Date: 11-14 Miller Farms purchases $54,700 of various feedstuffs for their cattle to supply the through the winter. Transaction #38: Date: 11-25 Kevin receives $62,300 cash for the sale of weaned calves to a local feedlot company. Transaction #39: Date: 12-1 Miller Farms sells their old cattle trailer. They receive $3,200 for the old trailer. The trailer had an original cost of $16,500 and has accumulated depreciation of 11,800. Transaction #40: Date: 12-14 Kevin sells weaned calves to a local buyer and receives $72,400. Transaction #41: Date: 12-21 Kevin pays Miller Farms employee Selena Jimenez $40,000 in wages. From this amount, Kevin must withhold 15% for Selenas income tax obligations. Transaction #42: Date: 12-23 Kevin pays Miller Farms payroll taxes associated with their employees wages. The payroll tax expense rate is 10% of the gross wages paid to Selena. Transaction #43: Date: 12-28 Miller Farms pays the accumulated income taxes of their employee (Selena Jimenez) they have been withholding from her paychecks. These are the taxes payable related to Selenas paychecks (transactions 20 & 41)

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