$($a$)$

Required

The unadjusted trial balance has been entered on a $10-$column end$-$of$-$period spreadsheet $($work sheet$)$ for you. Complete the spreadsheet using the following adjustment data

a Physcial inventory count on June $30$

b Store supplies used during the month

c Insurance expired during the Month

d Depreciation for the current month

e Accrued salaries on June $30$ : Sales salaries Total

Amount

$$96,200$

$3,050$

$850$

$1,000$

f The adjustment for customer returns and allowances is $$4,500$ for sales with $$2,600$ in related cost of goods sold.

g The Company uses the percent of credit sales method of estimated uncollectible accounts expense. Based on past history and industry averages, $1\%$ of credit sales are expected to be uncollectible. For this part of the scenario, assume all sales are credit sales.

Journalize the adjusting entries. Post the adjusting entries to the general Ledger

$.$ Prepare a multiple$-$step income statement

Prepare a statement of stockholders' equity.

Journalize the closing entries. Then post the cos of the allowance as demonstrated on page $428$ of the text.

Prepare a post$-$closing trial balance. $($bonus points$)$

$(3)$

$$,44,475\mathrm{.}00$

Purchased $100$ widgets on account from Martin Co$.,$ terms $\frac{1}{10},\frac{n}{30},$ FOB shipping point, $$55,540,$ including freight of $$1,540.q,$ $$200$ of point$-$of$-$sale coupons. $q,$

$q,$

$q,$ The widgets returned were part of the last layer in the original sale cost wise. $q,$ $$10,000$ towards his delinquent $($past due and written off$)$ balanc

$(8)($do cargelely$)$

Palisade Creek Co

For the month ended June $30,2023$