4 2 On January 1, 2024, the general ledger of Tripley Company included the following account balances: Accounts Cash Accounts receivable points 02:35:26 eBook Allowance for uncollectible accounts Inventory Building Land Accumulated depreciation Accounts payable Notes payable (8%, due in 3 years) Common stock Retained earnings Totals Debit $ 298,000 78,000 Credit $ 39,800 33,800 263,800 48,000 256,600 210,000 264,000 125,600 242,800 $ 930,200 $ 930,200 Print The $33,800 beginning balance of inventory consists of 338 units, each costing $100. During January 2024, the company had the following transactions: References January 2 Lent $58,000 to an employee by accepting a 6% note due in six months. January 5 Purchased 5,400 units of inventory on account for $594,000 ($110 each) with terms 1/10, 1/30 . January 8 Returned 100 defective units of inventory purchased on January 5. January 15 Sold 5,200 units of inventory on account for $873,600 ($168 each) with terms 2/10, 1/30. January 17 Customers returned 200 units sold on January 15. These units were initially purchased by the company on January 5. The units are placed in inventory to be sold in the future. January 20 Received cash from customers on accounts receivable. This amount includes $39,800 from 2023 plus amount receivable on sale of 4,600 units sold on January 15. January 21 Wrote off remaining accounts receivable from 2023. January 24 Paid on accounts payable. The amount includes the amount owed at the beginning of the period plus the amount owed from purchase of 5,000 units on January 5. January 28 Paid cash for salaries during January, $66,000. January 29 Paid cash for utilities during January, $48,000. January 30 Paid dividends, $6,800. Month-end adjusting entries: a. Of the remaining accounts receivable, the company estimates that 10% will not be collected. b. Accrued interest revenue on notes receivable for January. c. Accrued interest expense on notes payable for January. d. Accrued income taxes at the end of January for $8,800. e. Depreciation on the building, $5,800. Complete this question by entering your answers in the tabs below. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis 1. Record each of the transactions listed above in the "General Journal" tab (these are shown as items 1-13) assuming a perpetual FIFO inventory system. Purchases and sales of inventory are recorded using the gross method for cash discounts. Review the "General Ledger" and the "Trial Balance" tabs to see the effect of the transactions on the account balances. 2. Record adjusting entries on January 31 in the "General Journal" tab (these are shown as items 14-18). 3. Review the adjusted "Trial Balance" as of January 31, 2024, in the "Trial Balance" tab. 4. Prepare a multiple-step income statement for the period ended January 31, 2024, in the "Income Statement" tab. 5. Prepare a classified balance sheet as of January 31, 2024, in the "Balance Sheet" tab. 6. Record closing entries in the "General Journal" tab (these are shown as items 19-20). 7. Using the information from the requirements above, complete the "Analysi" tab. < Requirement General Journal > 2 7 points 02:34:13 purchase of 5,000 units on January 5. January 28 Paid cash for salaries during January, $66,000. January 29 Paid cash for utilities during January, $48,000. January 30 Paid dividends, $6,800. Month-end adjusting entries: a. Of the remaining accounts receivable, the company estimates that 10% will not be collected. b. Accrued interest revenue on notes receivable for January. c. Accrued interest expense on notes payable for January. d. Accrued income taxes at the end of January for $8,800. e. Depreciation on the building, $5,800. eBook Complete this question by entering your answers in the tabs below. Print Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis References Prepare an income statement for the period ended January 31, 2024. Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Tripley Company Income Statement For the Month Ended January 31, 2024 Revenues: Net sales revenues Gross profit Operating expenses: Total operating expenses Operating income Other income (expenses): Dates: January 02 to: January 30 < Trial Balance Balance Sheet > 2 7 points 02:34:13 purchase of 5,000 units on January 5. January 28 Paid cash for salaries during January, $66,000. January 29 Paid cash for utilities during January, $48,000. January 30 Paid dividends, $6,800. Month-end adjusting entries: a. Of the remaining accounts receivable, the company estimates that 10% will not be collected. b. Accrued interest revenue on notes receivable for January. c. Accrued interest expense on notes payable for January. d. Accrued income taxes at the end of January for $8,800. e. Depreciation on the building, $5,800. eBook Complete this question by entering your answers in the tabs below. Print Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis References Prepare an income statement for the period ended January 31, 2024. Choose the appropriate accounts to complete the company's income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Tripley Company Income Statement For the Month Ended January 31, 2024 Revenues: Net sales revenues Gross profit Operating expenses: Total operating expenses Operating income Other income (expenses): Dates: January 02 to: January 30 < Trial Balance Balance Sheet >