1. (15 points) Ceres Computer Sales uses the perpetual inventory system and had the following transactions during December Sold merchandise on credit costing $3,500 for $7,000 to Nina Corporation, terms 2/10, n/30. Purchased merchandise on credit from Scott Corporation costing $8,000, terms 3/10, n/60. Nina returned $500 of merchandise originally costing $250 and received credit. Received allowance from Scott Corporation for $750 for December 2d purchase. December 4 10 Paid bill to Scott for December 2nd purchase. 15 Sold merchandise on credit costing $4000 for $8000 to Dima Inc., terms 2/10, n/30. 16 Sold merchandise on credit costing $2000 for $4000 to Pepper Inc. terms 2/10, n/30. 19 Purchased merchandise on credit from Scott Corporation costing $1,250, terms 3/10, n/60. 22 Received payment from Nina for December 1st sale. 23 Sold merchandise on credit costing $2,400 for $4,800 to Joey Corporation, terms 2/10, n/30. 24 Received payment from Dima for December 15th sale 25 Received gifts from Santa, no journal entry required. 26 Received payment from Pepper for December 16th sale. urchased merchandise on credit from Scott Corporation costing $3,750, terms 3/10, n/60 Paid bill to Scott for December 19th purchases. 30 Required: (1) Prepare the general journal entries to record these transactions. 2) Give the control account and subsidiary ledger balances for Accounts Payable and Accounts receivable. egua 2. (15 points) Year-end adjusted trial balance of ABC Supply for the current year, is shown below: Nina Incorporated Adjusted Trial Balance December 31, 2017 $10,000 25,000 2,500 78,000 Cash Accounts receivable Office supplies Store equipment 37,000 Accumulated depreciation -store equipment Office equipment Accumulated depreciation - office equipment Accounts payable Unearned revenue Long term notes payable Nina, Capital 1/1/2017 Nina Withdrawals Sales Sales returns and allowances Cost of Goods Sold Advertising Sales salaries Rent - selling space Office salaries Office rent 32,250 10,000 18,750 18,250 32,000 11,500 24,000 250,250 500 155,000 2,500 24.000 6,000 16,000 S377,750 S377 750 Prepare a multi-step income statement, a Statement of Owner's Equity (no contributions), and a Classified Balance Sheet. Prepare closing entries and the post-closing trial balance