$1.$ Prepare journal entries for all October transactions

$2.$ Post journal entries to appropriate ledgers $($t$-$charts$)$ remember there are

starting balances above!

$3.$ Prepare an unadjusted trial balance.

$4.$ Prepare $($and post$)$ the adjusting journal entries given the following information:

a$.$ Inventory on October $31=$ $$592,000$

b$.$ Insurance expired during the year $=$ $$18,000$

c$.$ Store supplies on hand on October $31=$ $$5,800$

d$.$ Depreciation for the current year $=$ $$14,000$

e$.$ Accrued salaries on October $31$:

Sales salaries $$8,600$

Office salaries $5,600$

$14,200$

f$.$ The adjustment for customer returns and allowances is $$60,000$ for

sales and $$35,000$ for cost of goods sold.

$5.$ Prepare an adjusted trial balance.

$6.$ Prepare an Income Statement, Statement of Stockholder$$s Equity, and Balance

Sheet.

During October, the last month of the fiscal year, the following transactions were

completed:

$1.$ Paid rent for October, $$4,000.$

$3.$ Purchased merchandise on account from Thor Co$.,$ terms $1/10,$ n$/30,$ FOB shipping

point, $$36,000.$

$4.$ Paid freight on purchase of October $3,$ $$600.$

$6.$ Sold merchandise on account to Nala Co$.,$ terms $3/10,$ n$/30,$ FOB shipping point,

$$68,500.$ The cost of the goods sold was $$41,000.$

$7.$ Received $$22,300$ cash from Perry Co$.$ on account.

$10.$ Sold merchandise for cash, $$54,000.$ The cost of the goods sold was $$32,000.$

$13.$ Paid for merchandise purchased on October $3.$

$15.$ Paid advertising expense for last half of October, $$10,000.$

$16.$ Received cash from sale of October $6.$

$19.$ Purchased merchandise for cash, $$18,700.$

$19.$ Paid $$33,450$ to Apollo Co$.$ on account.

$20.$ Paid Nala Co$.$ a cash refund of $$13,095$ for returned merchandise from sale of

October $6.$ The invoice amount of the returned merchandise was $$13,500$ and the

cost of the returned merchandise was $$8,000.$

$20.$ Sold merchandise on account to Finn Co$.,$ terms $1/10,$ n$/30,$ FOB shipping

point, $$110,000.$ The cost of the goods sold was $$70,000.$

$21.$ For the convenience of Finn Co$.,$ paid freight on sale of October $20,$ $$2,300.$

$21.$ Received $$42,900$ cash from Albi Co$.$ on account.

Cash $$70,000$ Dividends $$122,500$

Accounts Receivable $$247,500$ Sales $$5,054,500$

Inventory $$620,000$ Cost of Goods Sold $$2,823,000$

Estimated Returns Inventory $$32,400$ Sales Salaries Expense $$664,800$

Prepaid Insurance $$19,800$ Advertising Expense $$293,500$

Store Supplies $$8,400$ Depreciation Expense $-$

Store Equipment $$569,500$ Store Supplies Expense $-$

Accum. Depr. $-$ Store Equip. $$56,700$ Misc. Selling Expense $$12,600$

Accounts Payable $$106,800$ Office Salaries Expense $$382,100$

Salaries Payable $-$ Rent Expense $$83,700$

Customer Refunds Payable $39,800$ Insurance Expense $-$

Common Stock $$100,000$ Misc. Admin Expense $$7,800$

Retained Earnings $$599,800$

$21.$ Purchased merchandise on account from Chloe Co$.,$ terms $2/10,$ n$/30,$ FOB

destination, $$88,000.$

$24.$ Returned damaged merchandise purchased on October $21,$ receiving a credit memo

from the seller for $$5,000.$

$26.$ Refunded cash on sales made for cash, $$7,500.$ The cost of the merchandise returned

was $$4,800.$

$28.$ Paid sales salaries of $$56,000$ and office salaries of $$29,000.$

$29.$ Purchased store supplies for cash, $$2,400.$

$30.$ Sold merchandise on account to Turner Co$.,$ terms $2/10,$ n$/30,$ FOB shipping point,

$$78,750.$ The cost of the goods sold was $$57,000.$

$30.$ Received cash from sale of October $20$ plus freight paid on October $21.$

$31.$ Paid for purchase of October $21,$ less return of October $24.$