Complete the following tasks 11. Winter's Snowboards uses the perpetual inventory system and the gross method of accounting for sales, and had the following sales transactions during June. Prepare the journal entries that Winter's Snowboards must make to record these transactions a) June 2 Sold merchandise to General Sports Store on credit for 54,800, terms 1/15, n/60. The items sold had a cost of $2,700. b) June 4 General Sports Store returned merchandise that had a selling price of $200. The cost of the merchandise returned was $110. c) June 13 General Sports Store paid for the merchandise sold on June 2 less the return, taking any appropriate discount earned. 12. A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is expected to produce 600,000 units of product during its 8-year useful life. Calculate the depreciation expense in the first year under the following independent situations. a) The company uses the units-of-production method and the machine produces 70,000 units of product during its first year. b) The company uses the double-declining balance method. c) The company uses the straight-line method. 13. On May 1, 2019. Deborah Merchant started Deborah's Launderette by investing $20,000. On May 3, the business borrowed $5,000 from a creditor and executed a note payable with the principal and interest to be due in one year. On May 7, the business purchased $15,000 of equipment for cash. On May 8. Deborah's Launderette rendered service to its first client and carned $3,000 in cash. On May 12, Deborah incurred repair expense of $1,800 and promised to pay the repair contractor the following month. On May 18, Deborah rendered service to a new client in the amount of $8,000 on account, as the client promised to pay the following month. At the end of May, Deborah took a withdrawal of $1,500. Prepare an income statement for the month of May, a statement of owner's equity for the month of May, and a balance sheet as of May 31, 2019