All of the charts posted correspond to year two. On the balance sheet, the cash section needs to be completed. On the statement of clash flows I need the inflow from sales tax, outflow for sales tax, and the outflow for interest. Finally, I need the two journal entries completed regarding the closing of the accounts, I need all of the t accounts completed and the post trial closing balance as well.

6 ! Required information Part 6 of 6 [The following information applies to the questions displayed below.] The following transactions apply to Walnut Enterprises for Year 1, its first year of operations: 1.05 points 1. Received $40,500 cash from the issue of a short-term note with a 6 percent interest rate and a one-year maturity. The note was made on April 1, Year 1. 2. Received $120,000 cash plus applicable sales tax from performing services. The services are subject to a sales tax rate of 8 percent. 3. Paid $72,500 cash for other operating expenses during the year. 4. Paid the sales tax due on $100,000 of the service revenue for the year. Sales tax on the balance of the revenue is not due until Year 2. 5. Recognized the accrued interest at December 31, Year 1. eBook References The following transactions apply to Walnut Enterprises for Year 2: 1. Paid the balance of the sales tax due for Year 1. 2. Received $145,000 cash plus applicable sales tax from performing services. The services are subject to a sales tax rate of 8 percent. 3. Repaid the principal of the note and applicable interest on April 1, Year 2. 4. Paid $85,500 of other operating expenses during the year. 5. Paid the sales tax due on $120,000 of the service revenue. The sales tax on the balance of the revenue is not due until Year 3. (For all requirements, round your intermediate and final answers to the nearest whole dollar amount.) f. Repeat Requirements a through e for Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Statement of Cash Flows and Balance Sheet only: Items to be deducted must be indicated with a minus sign.) WALNUT ENTERPRISES Balance Sheet As of December 31, Year 2 Assets Cash 0 Total assets $ 0 Liabilities Sales tax payable $ 2,000 0 2,000 Total liabilities Stockholders' equity Retained earnings $ 104,569 0 104,569 Total stockholders' equity Total liabilities and stockholders' equity $ 106,569 WALNUT ENTERPRISES Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flow from operating activities: Inflow from customers $ 145,000 Inflow from sales tax Outflow for expenses (85,500) Outflow for sales tax Outflow for interest $ 59,500 Net cash flow from operating activities Cash flows from investing activities: Cash flows from financing activities: Outflow for loan $ (40,500) (40,500) 19,000 Net cash flow from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance 89,600 $ 108,600 View transaction list Journal entry worksheet 1 2 > Record the closing entry for service revenue. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general journal View transaction list Journal entry worksheet