Cash JELLY COMPANY Unadjusted Trial Balance As of February 28, 2022 DEBIT CREDIT 180,000 Accounts Receivable 170,000 Inventory 236,800 Supplies 20,000 Prepaid Rent 20,000 Equipment 86,200 Accumulated Depreciation 58,000 Accounts Payable 100,000 Notes Payable 50,000 Unearned Revenue 20,000 Capital 200,000 Retained Earnings 230,000 Sales Revenue 102,000 Sales Returns and Allowances 2.000 Cost of Goods Sold 25,000 Salaries and Wages Expense 20,000 TOTAL 760,000 760,000 Property, Plant & Equipment List of Jelly Company as of Dec. 31, 2021 Accumulated Book Acquisiton Cost Item Account Date ($) Cars 16,000 Equipment 1.01.2019 Furniture Equipment 1.01.2018 62,000 Computers Equipment 1.07.2018 Life Depreciable Useful Depreciation Cost ($) Depreciation Value Rate (5) (5) 15,000 5 0.20 9,000 7,000 60,000 5 0.20 44,000 18,000 8,200 8,000 4 0.25 5,000 3,200 Total: 86,200 Total: 58,000 Above is the unadjusted trial balance of the Jelly Company as of Feb. 28, 2022 and the transactions on March 2022 are given below. Additionally, fixed assets list is given. The company adjusts and closes its accounts to prepare its financial statements quarterly. . March 1- Purchased 18% bonds for $40,000. Interest is payable semiannually. March 1-Purchased equipment 2 for $40,000. The useful life of 2 is 3 years and the residual value is estimated $4,000 3 years later. Wrote a $40,000, 2-month, 12% promissory note for the equipment. . March 1-Purchased merchandise for cash $3,600. . March 5-Purchased office supplies for $5,000. . . . . March 6-Acquired 600 shares of April Corporation common stock and paid $50 per share. March 15-Paid the $30,000, 12% promissory note which it had wrote on Jan. 15. March 24-Received dividend on stock investments. Dividend per share is $5. March 25-Delivered the order for $20,000 to a client who had paid the company for the goods in advance and recognized the sales revenue. The cost of the goods sold is $12,000. March 30-Sold 600 shares of April Corporation common stock for $48. March 31-Scrapped the furniture, and sold the computers for $2,200 cash. (Hint: Record depreciation up to the date of disposal.)