Because Natalie has had such a successful first few months, she is considering other opportunities to develop her business. Natalie has decided to sell fine European mixers. The owner of Kzinski Supply Co approached Natalie to become the exclusive distributor of these fine mixers in her state. The current invoice cost of a mixer is approximately $ 724 plus shipping and Natalie sells each one for $ 1.426. Cookie Creations Adjusted Trial Balance December 31, 2022 Account Debit Credit Cash $ 1.472 1.096 434 Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation - Equipment 1.496 1.488 $54 Accounts Payable 476 Salaries and Wages Payable 79 Notes Payable 2,480 Owner's Capital 992 Owner's Drawings 620 Service Revenue 5,614 Advertising Expense 198 Supplies Expense 1,282 Depreciation Expense 54 Insurance Expense 132 Salaries and Wages Expense 1,245 Utilities Expense 178 Totals $9,695 $9,695 Natalie uses the perpetual inventory system. The following transactions happen during the month of January Jan. 4 6 7 9 10 12 Bought five mixers on account from Kzinski Supply Co. for $ 3,620, FOB shipping point, terms n/30. Paid $ 120 freight on the January 4 purchase. Returned one of the mixers to Kzinski because it was damaged during shipping, Kzinski issues Cookie Creations credit for the cost of mixer plus $ 24 for the cost of freight that was paid on January 6 for one mixer. Bought four mixers on account from Kzinski Supply Co. for $ 2,852, FOB shipping point, terms n/30. Natalie is concerned that there is not enough cash available to pay for all of the mixers purchased. She invests an additional $ 2,480 cash in Cookie Creations. Paid $ 108 freight on the January 9 purchase. Natalie issued a check to her assistant for all the help the assistant has given her during the month. Her assistant worked 24 hours in January and is also paid the $ 79 owed at December 31, 2019. (Natalie's assistant earns $8 an hour.) Paid a $ 182 cell phone bill ($ 104 for the December 2022 account payable and $ 78 for the month of January). (Recall that the cell phone is used only for business purposes.)(Use accounts payable). Paid Kzinski the amount due from the January 4 purchase. Collected $ 476 of the accounts receivable from December 2022 Three mixers are sold on account for $4,278, FOB destination, terms n/30. (Hint: You must record both the revenue and expense components of this transaction. The expense component should include the invoice cost plus freight-in.) (Cost of goods sold is $ 748 per mixer.) 17 20 21 22 23 24 Paid the $ 104 of delivery charges for the three mixers that were sold on January 23. Sold two mixers for $ 2,852 cash. (Cost of goods sold is $ 748 per mixer.) 26 28 Collected the amounts due from customers for the January 23 transaction. 29 Paid Kzinski the amount due from the January 9 purchase in the amount of $ 2,852. 31 Natalie withdrew $ 930 cash for personal use. Prepare journal entries for the January 2023 transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record entries in the order displayed in the problem statement.) Date Account Titles and Explanation Debit Credit (To record sales revenue) (To record cost of goods sold) (To record sales revenue) V (To record cost of goods sold) As of January 31, the following adjusting entry data is available. 1. A count of baking supplies reveals that none were used in January, Another month's worth of depreciation ($ 24) needs to be recorded on the $ 1,488 of baking equipment bought in November 2. 3. During the month, $ 132 of insurance has expired. Prepare the adjusting journal entries required. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit Credit 1. 2. 3. Post the January 2023 transactions. (Post entries in the order of journal entries presented in the previous part. If balance after calculations is then please enter 0. Enter other answers in Debit and Credit columns in relevant fields only, leave other fields blank.) Cash Date Explanation Ref. Debit Credit Balance Balance 31 J1 J1 >> J1 J1 J1 J1 TC TE A TC TC V A IC > Accounts Receivable Date Explanation Ref. Debit Credit Balance Balance 01 J1 J1 Inventory Date Explanation Ref. Debit Credit Balance J1 J1 J1 31 J1 31 J1 Supplies Date Explanation Ref. Debit Credit Balance Balance Prepaid Insurance Date Explanation Ref. Debit Credit Balance Balance Adjusting 12 Equipment Date Explanation Ref. Debit Credit Balance Balance Accumulated Depreciation- Equipment Date Explanation Debit Credit Balance Balance Adjusting J2 Accounts Payable Date Explanation Ref. Debit Credit Balance Balance J1 31 > 01