Accounting Project Part 2 - Spring 2020 tot Draw Design Layout References Daibri (B. 12 AA AA BIUX, X APA Mailings Review View EEEE 21 Abedie Abcdte AaBbccd First Prior to accounting for the February activity listed below. Make any necessary adjusting entry to the January accounts. Note: Some students had already made the two adjusting entries for January February Activity February Date 2 Sold to Eric's Bike Shop, COGS is $ $ $ $ $ 50.000 25,000 15.00 20,000 40.000 $ Transaction Purchased inventory on account Sale on count Purchased radio time in March Received accounts receivable (customer payment Pald supplier accounts payable) Paid monthly administrative salaries Paid monthly sales salaries Pald Lanuary sales commissions Sale on account Paid February Utilities Purchased Inventory on account 15,000 12 14 15 15 15 20 25 27 $ $ $ 5,000 9,300 40,000 1.500 35,000 Ignore payroll taxes Ignore payroll taxes Ignore payroll taxes Sold to Dick's Sporting Goods, COGS is $ 22,000 $ Complete the following: 1. Prepare journal entries for each February event. 2. Post the journal entries to "T" accounts (see note below). 3. Prepare the February YTD (Year-To-Date) trial balance 4. Prepare the February YTD income statement Note: You will continue to use the same "T" accounts established in January. The February entries will Simply be added to the existing balances from January (giving you February YTD balances). MacBook Air