1 - Info 2- Journal Entries 3- Inventory Cost Tracking 3- General Ledger 4-Ure 4,105 15.936 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Supplies Equipment Accumulated Depreciation Trial Balance 1/31/20 22,638 Accounts Payable 18.925 Salaries Payable 0 Common Stock 24,600 Retained Earnings 4.185 Sales Reveue 96.450 Utilities Expense 0 Salaries Expense 50,000 70,695 42.538 540 15,936 Additional Information: Beginning Inventory: 4.100 units w $6/unit Step 1: On the Journal Entries" tab - write out the Journal entries for the dates above. Post the entries to the General Ledger (represented by T-Charts for each account). Assume Harvey uses a perpetual inventory system and FIFO cost- method for inventory (Use Tab 3 to help with calculations), MOTE LWAYS ROOND TO THE NEAREST WHOLE DOLLAR WHERE APPLICABLE 1 2/2 - Harvey purchased 1,600 units of inventory for $6.10'unit on credit 2 2/5 - Harvey sold 2,500 units for $7/unit to Bonkerz Co. on credit. Payment terms are 2/10, 1/30. (Make sure to include BOTH halves of the entry now - Sales and COGS!!) 3 2/13 - Harvey receives a check from Bankerz for $8.575 for payment of half of the sale made on 25. 42/17 -Harvey purchased 1,000 units of inventory for $6.20/unit on credit 5 221 - Harvey sold 1,950 units for $7/unit to Tootsies, Inc, on credit. Payment terms are 2/10, 1/30 (Make sure to include BOTH halves of the entry now - Sales and COGS! 6 2/26 - Harvey receives a check for for the remaining balance owed from Bankerz's transaction on 2/5. 7 2/27 - Harvey received a check for $5,750 from Tootsies for half the sale on 2/21. 8 2/28 - Harvey recorded the February (1 month) depreciation on the Equipment. Original cost = 96,450; Estimated useful life = 10 years. No salvage value Check Figure: Total Debits and Credits of #1-8 - 598.017