1. Journalize the routine transactions described on the Journal Tab. You do not need to complete the PR section for this assignment. Use the account names on the ATB. Then update the adjusting trial balance sheet.

2.

ABC Company General Journal Page 1 Note There are the other below and there the jard Description PR Debit During the last month of the year the following transactions wees semained Dec 1 Paid rent for December, $7,500. Dec 3 Purchased merchandise from Gout Company for $10,000 under terme 1/18, 38, FOB Sping Point Det 4 Pald 5800 cash for freight charges on purchase of Dec 3. Dec 5 Sold merchandise to leaver company for $22,000 under credit terme 2/10, 0, FOB Shpping Point. The merchandise had a cost of $5,000. Deco Purchased merchand se from Duck Company for $25,000, under torme waom (netet and of mort Dec 8 Received $22.400 on account from Warthog Company, nadacourt. This sale was made in November Dec Aller negotiations with Goal Company concerning problems with the merchandise purchased on Dec 3. ABC Company received a credit credit memorandum from Goat Company granting an allowance of $3,000 Dec 10 Pald part-time sales clerk $3,000 which included $2,000 of Sale Salaries Payable on December 1st in this entry will require the lines) Dec 11 Sold merchandise on account to Cow company, terms 2/10, wo, Foe destination, 520,000. The marchand so had a cost of $11,000 Dec 12 Pald 3750 cash for sing charges related to the Dee 11 ale to Cow Compay Dec 13 Pald the amount to Gout Company for the Dee 3 purchase is the alowance granted on Dec. Dec 15 received balance du from Heaver Company for merchandise sold on Dec Dec 16 Cow company returned merchandise from the Du 11 ale that he cost ABC Comary 81.500 and en sold for 6.000. The merchandise Dec 21 Received amount oe from Cow company for the Dect sale foss the sale Faturn on Dee 16 Dec 23 Puidvertising expense watering the last work of December 31,750 Dec 4 Paid part time sales clerk for two weeks way, $3,000 Dee? Purchased office supplies on me, 100 Dec 1 Pald Duck Company amount from the Dee & prchase At the end of December the following adjustment data were assembled After a ysical count of inventory. It was determined that $127.200 Inventory exists at December 31 Adjusted Trial Balance Financial Statements + Directions Journal Unadjusted Tral Balance Dec 12 Paid $750 cash for Nipping charges related to the Teto Cow Company Dec 13 Paid the amount due to Goat Company for the Dec 3 purchase less the allowance granted on Dec. Dhee 15 Received balance due from Beaver Company for merchandise sold on Dec Dec 16 Cow company returned merchandise from the Dee 11 sale that had cost ABC Company $1,500 and been sold for $6,000. The merchandise was restored to inventory Dec 21 Received amount from Cow company for the Dec 11 sale less the sale return on Dee 16 Dec 23 Pald advertising expense for asuring the last week of December, $1,750 Dec 24 Pald part-time sales clerk for two weeks' salary, 13,000 Dec 27 Purchased office supplies on account. $900 Dec 31 Pald Duck Company amount One from the Dee purchase. At the end of December, the following adjustmant data were assembled. Altera pyll court of Inventory, it was determined that $127.200 of Inventory exists at December 31 b 1% of sales is expected to be refunded Estimated Cost of Merchandise that will be returned in the next year in 57,500 dimurance Expired during the year. 62.100. Omice supplies on hand at Dec 31, $1,250. + Depreciation for December in $1,100. Sales clerk carred $1,500 of tirpale and recorded salary of Dec 31 Directions Journal Unadjusted Trial Balance Adjusted Trial Balance Financial Statements ABC Company Unadjusted Trial Balance December 31, 20xx Credit Debit 58,050 1,000 30,000 52,430 128,750 500 8,740 2,150 60,150 Cash Petty Cash Notes Receivable Accounts Receivable Merchandise Inventory Estimated Retums Inventory Prepaid Insurance Office Supplies Delivery Equipment Accumulated Depreciation-Delivery Equipment Accounts Payable Salaries Payable Customer Refunds Payable R.W. Miller, Capital R.W. Miller, Drawing Sales Interest Revenue Cost of Merchandise Sold Sales Salaries Expense Rent Expense Delivery Expense Deprecation Expense-Delivery Equipment Advertising Expense Miscellaneous Selling Expense Office Salaries Expense Insurance Expense Office Supplies Expense Miscellaneous Administrative Expense Interest Expense 22,950 65,000 0 3,120 193,870 30,000 1,057,860 1,650 B 659,070 92,330 62,500 39,510 7,630 13,780 5,090 52,300 15,280 8,700 14,490 2,000 1,344,450 0 :1 52 33 34 35 36 37 38 39 Total 1,344,450 ABC Company General Journal Page 1 Note There are the other below and there the jard Description PR Debit During the last month of the year the following transactions wees semained Dec 1 Paid rent for December, $7,500. Dec 3 Purchased merchandise from Gout Company for $10,000 under terme 1/18, 38, FOB Sping Point Det 4 Pald 5800 cash for freight charges on purchase of Dec 3. Dec 5 Sold merchandise to leaver company for $22,000 under credit terme 2/10, 0, FOB Shpping Point. The merchandise had a cost of $5,000. Deco Purchased merchand se from Duck Company for $25,000, under torme waom (netet and of mort Dec 8 Received $22.400 on account from Warthog Company, nadacourt. This sale was made in November Dec Aller negotiations with Goal Company concerning problems with the merchandise purchased on Dec 3. ABC Company received a credit credit memorandum from Goat Company granting an allowance of $3,000 Dec 10 Pald part-time sales clerk $3,000 which included $2,000 of Sale Salaries Payable on December 1st in this entry will require the lines) Dec 11 Sold merchandise on account to Cow company, terms 2/10, wo, Foe destination, 520,000. The marchand so had a cost of $11,000 Dec 12 Pald 3750 cash for sing charges related to the Dee 11 ale to Cow Compay Dec 13 Pald the amount to Gout Company for the Dee 3 purchase is the alowance granted on Dec. Dec 15 received balance du from Heaver Company for merchandise sold on Dec Dec 16 Cow company returned merchandise from the Du 11 ale that he cost ABC Comary 81.500 and en sold for 6.000. The merchandise Dec 21 Received amount oe from Cow company for the Dect sale foss the sale Faturn on Dee 16 Dec 23 Puidvertising expense watering the last work of December 31,750 Dec 4 Paid part time sales clerk for two weeks way, $3,000 Dee? Purchased office supplies on me, 100 Dec 1 Pald Duck Company amount from the Dee & prchase At the end of December the following adjustment data were assembled After a ysical count of inventory. It was determined that $127.200 Inventory exists at December 31 Adjusted Trial Balance Financial Statements + Directions Journal Unadjusted Tral Balance Dec 12 Paid $750 cash for Nipping charges related to the Teto Cow Company Dec 13 Paid the amount due to Goat Company for the Dec 3 purchase less the allowance granted on Dec. Dhee 15 Received balance due from Beaver Company for merchandise sold on Dec Dec 16 Cow company returned merchandise from the Dee 11 sale that had cost ABC Company $1,500 and been sold for $6,000. The merchandise was restored to inventory Dec 21 Received amount from Cow company for the Dec 11 sale less the sale return on Dee 16 Dec 23 Pald advertising expense for asuring the last week of December, $1,750 Dec 24 Pald part-time sales clerk for two weeks' salary, 13,000 Dec 27 Purchased office supplies on account. $900 Dec 31 Pald Duck Company amount One from the Dee purchase. At the end of December, the following adjustmant data were assembled. Altera pyll court of Inventory, it was determined that $127.200 of Inventory exists at December 31 b 1% of sales is expected to be refunded Estimated Cost of Merchandise that will be returned in the next year in 57,500 dimurance Expired during the year. 62.100. Omice supplies on hand at Dec 31, $1,250. + Depreciation for December in $1,100. Sales clerk carred $1,500 of tirpale and recorded salary of Dec 31 Directions Journal Unadjusted Trial Balance Adjusted Trial Balance Financial Statements ABC Company Unadjusted Trial Balance December 31, 20xx Credit Debit 58,050 1,000 30,000 52,430 128,750 500 8,740 2,150 60,150 Cash Petty Cash Notes Receivable Accounts Receivable Merchandise Inventory Estimated Retums Inventory Prepaid Insurance Office Supplies Delivery Equipment Accumulated Depreciation-Delivery Equipment Accounts Payable Salaries Payable Customer Refunds Payable R.W. Miller, Capital R.W. Miller, Drawing Sales Interest Revenue Cost of Merchandise Sold Sales Salaries Expense Rent Expense Delivery Expense Deprecation Expense-Delivery Equipment Advertising Expense Miscellaneous Selling Expense Office Salaries Expense Insurance Expense Office Supplies Expense Miscellaneous Administrative Expense Interest Expense 22,950 65,000 0 3,120 193,870 30,000 1,057,860 1,650 B 659,070 92,330 62,500 39,510 7,630 13,780 5,090 52,300 15,280 8,700 14,490 2,000 1,344,450 0 :1 52 33 34 35 36 37 38 39 Total 1,344,450