5 Account balances K Accounts Payable $ 21,600 Accounts Receivable 31,000 Accumulated Amortization-Equipment 78,000 Cash 9,400 Cost of Goods Sold 687,000 E. Brown, Capital 418,500 E. Brown, Withdrawals 94,000 Equipment 180,000 Interest Earned 5,200 Inventory 143,000 Drint - X A ext pages Account balances - X Anku lo Equipment 180,000 Interest Earned 5,200 Inventory 143,000 Operating Expenses 363,000 Sales Discounts 10,300 Sales Returns and Allowances 50,000 ary or Sales Revenue 1,061,000 Supplies 26,000 Unearned Sales Revenue 9,400 Note: For simplicity, all operating expenses have been summarized in the account Operating Expenses. quire the Exp nal Print Done Get more n lear omework: Chapter 5 Ankur Saini 02/19 Question 2, Problem 5-5A (similar to) Part 1 of 11 HW Score: 24.94%, 2.49 of 1 points O Points: 0 of 4 Excalibur Adventures, which uses the perpetual inventory system, has the following account balanc Korder) on January 31, 2023: stion list uestion 1 Additional data Question 2 Question 3 a. A physical count of items showed $4,600 of supplies on hand. (Hint: Use the account Operating Expenses in the adjusting journal entry.) b. An inventory count showed inventory on hand at January 31, 2023, of $142,000. c. The equipment has an estimated useful life of eight years and is expected to have no value at the end of its life. (Hint: Use the account Operating Expenses in the adjusting journal entry.) d. Unearned sales revenue of $6,200 was earned by January 31, 2023. Print Done 202 bh ing Requirement 1. Record all adjustments and closing entries that would be required on January 31, 2 Start with the adjusting entries. Create the adjusting journal entry for (a) from the additional data. A p items showed $4,600 of supplies on hand. (Hint: Use the account Operating Expenses in the adjustin entry.) (Record debits first, then credits. Exclude explanations from journal entries.) Journal Entry Date 31 January Accounts Debit Credit text pages Get more help Clear all Che Microsoft Edge Student/PlayerHomework.aspx?homeworkId=640773532&questionId=1&flushed=false&cld=72 5 Ankur Saini 02 Accumulated Amortization-Equipment Cost of Goods Sold 24.94%, 2.49 0 of 4 E. Brown, Capital Excalibur Adventur owing account b alphabetical order) E. Brown, Withdrawals Income Summary nt/PlayerHomework.aspx?homeworkId=640773532&questionId=1&flushed=false&cid=7243542&ce Ankur Saini 02/19/23 5: Excalibur Adventur Income Summary Interest Earned Inventory alphabetical order) Operating Expenses Sales Discounts Requirement 1. R. Sales Returns and Allowances Start with the adjus Sales Revenue items showed $4,6 entry.) (Record de Supplies Date January 31 Unearned Sales Revenue 24.94%, 2.49 of 10 0 of 4 owing account balances ( uired on January 31, 2023 he additional data. A phys xpenses in the adjusting jo al entries.) Credit Clear all Chec Etext pages Get more help