2 Prepare the adjusting entries. The adjusting entries should be recorded in the General Journal and posted to the respective accounts in the General Ledger. a. Merchandise Inventory: a physical inventory count was taken which resulted in 1 more H2411-HP SCAN -JET 5300 than in the perpetual inventory records. Record and post journal entry to add this item to the Merchandise Inventory account and to the Subsidiary Ledger account. b. Depreciation: calculate depreciation for the building, office equipment and store equipment. Depreciation amounts should be calculated to the penny. See the December 1 transactions for the depreciation method and expected life. Prepare a Depreciation Schedule for the entire life of the office equipment and store equipment. Use tables in the Depreciation Schedule in the Ledgers and Schedules booklet. Record depreciation entry for the month of December (one month only). c. Uncollectable accounts: estimated uncollectable accounts are 12 percent of the Accounts Receivable balance in the General Ledger after all other monthly entries have been posted. The allowance method is used to estimate uncollectable accounts. d. Insurance: one month of the business insurance has expired. e. Store and Office Supplies: a physical count was taken of the store supplies and $500 is remaining. A physical count was taken of the office supplies and $575 is remaining. f. Bond amortization: record the bond interest payable and amortization of the discount for the month. Use the effective interest method to amortize the premium. Round results to the nearest penny. Prepare an amortization schedule for the entire life of the bonds. A form is provided in the Ledgers and Schedules booklet. evision: Fall 2019