1) Journalize both sides of the following transactions that occurred during March 2022 between the seller, Paper Clips, and the buyer, Big Red Paper Company, using the provided template: 03/21 Paper Clips takes an order for $28,000 worth of merchandise from Big Red Paper Company. Terms are 4/10, 1/30 FOB Destination. The cost of the merchandise was $16,700. 03/22 Truckers, Inc. was paid $300 to ship the order. 03/25 $3,600 worth of merchandise is returned due to a mistake with the order. The cost of the returned merchandise was $2,240 03/30 Paper Clips received a timely payment from Big Red Paper Company 2) On December 31, 2022, Big Red Paper Company had sales of $941,500 for the year. Refunds in 2023 are expected to be 2.75% of sales. The cost of these returns is estimated to be $15,650. Journalize the two (2) adjusting entries required to account for the estimated customer refunds/returns. 3) Selected unadjusted accounts for Big Red Paper Company on December 31, 2022 are presented below: 81,000 Office Salaries Expense Interest Revenue Cost of Goods Sold 11,00 688,750 Sales 941,500 95,000 16,500 Sales Salaries Expense Store Supplies Expense Office Supplies Expense Interest Expense 9,050 9,750 Dividends 12,750 15,000 Unearned Revenue a a) Prepare a Multiple Step Income Statement for the year. 3-column format and 3-line header are required. b) Using the data above, close the adjusted temporary accounts in journal entry format. 1) Journalize both sides of the following transactions that occurred during March 2022 between the seller, Paper Clips, and the buyer, Big Red Paper Company, using the provided template: 03/21 Paper Clips takes an order for $28,000 worth of merchandise from Big Red Paper Company. Terms are 4/10, n/30 FOB Destination. The cost of the merchandise was $16,700. 03/22 Truckers, Inc. was paid $300 to ship the order. 03/25 $3,600 worth of merchandise is returned due to a mistake with the order. The cost of the returned merchandise was $2,240. 03/30 Paper Clips received a timely payment from Big Red Paper Company, 2) On December 31, 2022, Big Red Paper Company had sales of $941,500 for the year Refunds in 2023 are expected to be 2.75% of sales. The cost of these returns is estimated to be $15,650, Journalize the two (2) adjusting entries required to account for the estimated customer refunds/returns