College Coasters is a San Diegobased merchandiser specializing in logo-adorned drink coasters. The company reported the following balances in its unadjusted trial balance at December 1.

Cash	$ 8,000
Accounts Receivable	1,860
Inventory	400
Prepaid Rent	660
Equipment	750
Accumulated Depreciation	110
Accounts Payable	1,340
Salaries and Wages Payable	300
Income Taxes Payable	0
Common Stock	6,000
Retained Earnings	2,500
Sales Revenue	12,650
Cost of Goods Sold	7,210
Rent Expense	1,210
Salaries and Wages Expense	1,600
Depreciation Expense	110
Income Tax Expense	0
Office Expense	1,100

The company buys coasters from one supplier. All amounts in Accounts Payable on December 1 are owed to that supplier. The inventory on December 1 consisted of 1,000 coasters, all of which were purchased in a batch on July 10 at a unit cost of $0.40. College Coasters records its inventory using perpetual inventory accounts and the FIFO cost flow method. During December, the company entered into the following transactions. Some of these transactions are explained in greater detail below.

1. Purchased 500 coasters on account from the regular supplier on 12/1 at a unit cost of $0.42, with terms of n/60.
2. Purchased 900 coasters on account from the regular supplier on 12/2 at a unit cost of $0.45, with terms of n/60.
3. Sold 1,800 coasters on account on 12/3 at a unit price of $1.00.
4. Collected $840 from customers on account on 12/4.
5. Paid the supplier $1,490 cash on account on 12/18.
6. Paid employees $480 on 12/23, of which $260 related to work done in November and $220 was for wages up to December 22.
7. Loaded 100 coasters on a cargo ship on 12/31 to be delivered the following week to a customer in Kona, Hawaii. The sale was made FOB destination with terms of n/60.

Other relevant information includes the following at 12/31:

1. College Coasters has not yet recorded $180 of office expenses incurred in December on account.
2. The company estimates that the equipment depreciates at a rate of $9 per month. One month of depreciation needs to be recorded.
3. Wages for the period from December 2331 are $100 and will be paid on January 15.
4. The $660 of Prepaid Rent relates to a six-month period ending on May 31 of next year.
5. The company incurred $700 of income tax but has made no tax payments this year.
6. No shrinkage or damage was discovered when the inventory was counted on December 31.
7. The company did not declare dividends and there were no transactions involving common stock.

General Journal tab - Prepare the journal entries to record the transactions (a) through (n). Review the accounts as shown in the General Ledger and Trial Balance tabs.

General Ledger tab - Each journal entry is posted automatically to the general ledger. Use the drop-down button to view the unadjusted, adjusted, or post-closing balances in the General Ledger.

Trial Balance tab - You may view either the unadjusted, adjusted, or post-closing trial balance by choosing from the drop-down.

Income Statement tab - Use the drop-down to select the accounts properly included on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account based on your selection.

Balance Sheet tab - Use the drop-down to select the accounts to properly included on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection.

Analysis tab - Calculate to one decimal place the inventory turnover ratio and days to sell in 'Analysis Tab.'