a Physcial inventory count on June 30 $ 570,000 b Store supplies used during the month. 2,700 c Insurance expired during the Month 1,200 d Depreciation for the current month 1,150 e Accrued salaries on June 30: Sales salaries $ 5,600 Office salaries 4,500 Total 10,100 f The adjustment for customer returns and allowances is $4,500 for sales with $2,600 in related cost of goods g The Company uses the percent of credit sales method of estimated uncollectible accounts expense. Based on past history and industry averages, 2% of credit sales are expected to be uncollectible. 2. Journalize the adjusting entries. Post the adjusting entries to the general Ledger 3. Prepare a multiple-step income statement. 4. Prepare a statement of stockholders equity. 5. Prepare a balance sheet. Report receivables net of the allowance as demonstrated on page 428 of the text. 6. Journalize the closing entries. Then post the closing entries to the general ledger . 7. Prepare a post-closing trial balance. (bonus points) GK Flooring Worksheet For the month ended June 30, 2023 TRIAL BALANCE ADJUSTMENTS ADJUSTED TRIAL BALANCE INCOME STATEMENT BALANCE SHEET ACCOUNT NAME DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT DEBIT CREDIT Cash 115,525.00 Accounts Receivable 263,938.00 Allowance for Uncollectible Accounts 53,203.00 Inventory 586,500.00 Estimated Returns Inventory 35,200.00 Prepaid Insurance 4,800.00 Store Supplies 9,850.00 Store Equipment 569,500.00 Accumulated DepreciationStore Equipment 70,700.00 Accounts Payable 43,000.00 Salaries Payable - Customers Refunds Payable 56,750.00 Common Stock 100,000.00 Retained Earnings 1,196,200.00 Dividends 10,000.00 Sales 460,000.00 Cost of Goods Sold 256,000.00 Sales Salaries Expense 60,650.00 Advertising Expense 24,000.00 Depreciation Expense - Store Supplies Expense - Miscellaneous Selling Expense 1,050.00 Office Salaries Expense 34,800.00 Rent Expense 7,390.00 Insurance Expense - Miscellaneous Administrative Expense 650.00 Bad Debt Expense - 1,979,853.00 1,979,853.00 Net income

2. Journalize the adjusting entries. Post the adjusting entries to the general Ledger 3. Prepare a multiple-step income statement. 4. Prepare a statement of stockholders equity. 5. Prepare a balance sheet, Report receivables net of the allowance as demonstrated on page A28 of the text. 6. Journalize the closing entries. Then post the closing entries to the general ledger 7. Prepare a post-ciosingtrial balance (bonus points) 2. Journalize the adjusting entries. Post the adjusting entries to the general Ledger 3. Prepare a multiple-step income statement. 4. Prepare a statement of stockholders equity. 5. Prepare a balance sheet, Report receivables net of the allowance as demonstrated on page A28 of the text. 6. Journalize the closing entries. Then post the closing entries to the general ledger 7. Prepare a post-ciosingtrial balance (bonus points)