As of January 31, the following adjusting entry data are available. 1. Acount of baking supplies reveals that none were used in Jaruary, 2. Another month's worth of depreciation needs to be recorded on the $1,200 of baking equipment bought in November. (Recail that the baking equipment has a useful life of 5 years or 60 months and no salvage value.) 3. An additionai month's worth of interest on her grandmother's $2,000 loan needs to be accrued. IThe interest rate is 6%. 4. During the month, $110 of insurance has expired, 5. An analysis of the unearned service revenuie account reveals that Natallo has not had time to teach any of these lessons this month because she has been so busy seiling mixers. As a result, there is no change to the unearned service revenue account. Natalie hopes to complete the remaining lessons in February. 6. An imventory count of mbibrs at the end of January reveals that Natalie has three mixers remaining. Prepare the adfusting journal entries required. (Credit occount titles are automatically indented when amount is entered. Do not indient manualy. II no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Because Natalie has had such a successful first few months, she is considering other opportunities to develop her buisiness. One opportunity is the sale of fine European mixers. The owner of Kzinski Supply Ca has approached Natalie to become the exclusive distributor of these fine mixers in her state. The current cost of a mixer is approximately $575, and Watalie Would sell each one for $1,150. Natalie comes to you for advice on how to account for these mixers. Each appliance has a serial number and can be easily identifed. Natalie asks you the following questions. 1. Would you consider these mixers to be inventory or should they be classified as supplies or equipment? T've learned a littic about keeping track of imventory using both the perpetual and the periodic systems of accounting for 2. inventory. Which system do you think is better? Which one would you recomenend for the tyde of inventory that I want to selif' 3. How often do Ineed to count inventory if I maintain it using the perpetual system? Oo I need to count inventory at allf The trial balance for cookie crestions as on December 31.2018 is as follow: In the end, Natalit decides to use the perpetual Imentory system. The following transactions happen during the month of Januany Jan. 4 Bought five deluxe mixers on account from Kzinskik Supply Co. for $2,875, FOB shipping point, termsin/39 6. Paid $100 freight on the January 4 purchase. 7 Returned one of the mixers to Kzinski because it was damaged during shipping. Kzinski issues Cookie Creations credit for the cost of mixer plus $20 for the cost of freight that was paid on January 6 for one mixer. 8 Collected $375 of the accounts receivable from December 2018 . 12 Three deluxe mixers are sold on account for $3,450, FOB destination, terms n/30. (Cost of goods $ soid is $595 per m ixer) 14 Paid the $75 of delivery charges for the three mixers that were sold on January 12. 14 Bought four deluxe mbers on account from Kzinski Supply Co, for $2,300, FOB shipping point, terms 350. 17. Natalie is concerned that there is not enough cash available to pay for all of the mixers purchased. Stic invests an additional $1,000 cash in Cookie Creations in exchange for commonstock 18. Paid $80 treight on the January 14 purchase. 20. Sold two deluxe miners for $2,300 cash. (Cost of goods sold is $595 jer mixer.) 29. Natalie issued a check toher assistant for all the help the assistant has given her during the month. Her assist ant worked 20 hours in January and is also paid the $56 owed at December 31,2028 . (Natalie's ansistant earns $8 an hour) 28. Collected the amounts due from customers for the January 12 transaction. 30. Paid a $145 utility bili ( $75 for the December 2018 accounts payabie and $70 for the month of January). 31 PaldKainskall amounts due. 31 Cash dividends of $750 are paid. Prepare the January 2019 transactions. (Credit account titles are automatically indented when amount is manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record ei the problem statement.) Prepare a trial balance. (Do not list those accounts that have zero ending balance.)