Bookkeeping (16:090) Assignment #1 (due Dec 4, 2023) 1) Record the following transactions in the general journal Accounts to use: cash, accounts receivable, inventory, prepaid expenses, investments, equipment, vehicles, investment, accounts payable, unearned revenue, loan, taxes payable, common stock, owner's equity, sales revenue, service revenue, interest revenue, amortization expense, cost of goods sold, bank expense, freight expense, insurance expense, office expense, rent expense, travel expenses, utilities expense, vehicle expense, wage expense July 1 you provide $1,700 worth of services to a customer in return for cash July 5 - you bought $300 worth of office supplies on account July 10 - you make a loan payment of $1,000; $800 going to the loan principal and $200 to interest July 15-received $500 payment from a customer who had already been billed July 20 you receive the monthly telephone bill of $250, to be paid at later date July 25 - you purchase equipment worth $2,500 on account July 27-you pay the $1,000 monthly rent using cash July 30 - you pay salaries of $2,400 to employees 2) a. Prepare schedule of cost of goods sold for Mighty Sports for January using the following figures: Beginning inventory: $47,300 Purchases: $20,500 Purchase returns and allowances: $600 Purchase discounts: $250 Transportation-in: $1,200 Ending Inventory: $36,900 b. Prepare an income statement for Mighty Sports for January using the cost of goods sold from part (a) and the following figures: Sales: $70,550 Sales returns and allowances: $1,950 Sales discounts: $150 Salaries: $8,200 Rent: $1,975 Delivery expense: $900 Other expenses: $2,300 3) a. Prepare the May reconciliation for ABC Retails Co. using the following information: Bank statement balance: $1,834.36 Cash account balance: $2,240.51 The following cheques were recorded in the cash payments journal but did not appear on the bank statement: #168 $87.00, #130 $207 30 %100 07230