Could you just give the journal entries for 1-15, i am having a lot of trouble with them. You'd really be helping me out! Thanks

QB Problem #3 Information ARC Bookstore, Inc. is college bookstore whose primary business is to buy textbooks from publishing companies and resell them to students, though it periodically resells them to smaller book stores in the area. The company has a calendar (i.e. December 31) year-end. The company uses a perpetual inventory system (which means you will need to make two entries when a sale occurs) The company's accounting policy is to record purchase discounts taken at time of payment to the vendor and to record sales discounts at time of receipt of the cash payment from the customer. The company uses the accrual method of accounting. The company's internal control policies requires that payments (checks) be \"cut\" only through A/P for which an invoice has been received from an approved vendor. At November 30, 2016, the company's trial balance (TB) appeared as follows: a/c # 100 105 110 115 190 195 200 220 230 240 310 320 330 400 405 410 500 605 610 615 620 625 630 640 Account Name Cash Accounts Receivable Inventory Supplies Furniture & Equipment A/D- Furniture & Equipment Accounts Payable Wages Payable Utilities Payable Income Taxes Payable Common Stock Retained Earnings Dividends Declared Sales Sales Discounts Sales Returns & Allowances COGS Depreciation Expense Credit Card Expense Supplies Expense Wages Expense Delivery Expense Utilities Expense Income Tax Expense Total Dr. Cr. 35,000 0 45,000 4,200 60,000 32,000 0 1,200 300 3,640 12,000 78,370 7,500 330,000 400 1,550 218,440 5,500 4,650 3,800 64,320 0 4,400 2,750 457,510 . 457,510 Record the transactions given under I, II and III given below (follow the instructions under \"Required\"). I. Record the following, mostly summarized transactions, at December 29, 2016, unless dates are given for a transaction (i.e. #1 and #2), in which case you should use date given. 1. On December 4, 2016 received Paychex (the company's payroll service) invoice #965 which shows the following (worker's get paid bi-weekly): Wages for the week of Nov. 24 - Nov. 25 $1,200 1 (this relates to the accrual shown on the TB given above) Wages for the week of Dec. 1 - Dec. 4 Total $2,000 $3,200 Note: make 2 entries here (dated Dec. 4, and use 1 and 1A for the entry No.'s), one to enter the invoice from Paychex and the 2nd to pay the invoice. [on the A/P line, use the pull-down menu under the \"Name\" column to select the appropriate vendor (or customer if related to A/R)] 2. On December 10, receive invoice #CON1543 from Connexus Energy for November utilities. $325 Note: Once again make 2 entries here (dated Dec. 10 and use 2 and 2B for the entry No.'s), one to enter the invoice from Connexus Energy [for which you will need to refer to the trial balance given above], and the 2nd to pay the invoice. 3. Purchased merchandise inventory from University Supply Company under credit terms 1/10, n/30. [date entries #3 - #15 at 12/29/16] $1,400 Purchased merchandise inventory from other Acme Book Company under credit terms 1/10, n/30. $15,000 5. Sold merchandise for cash (cost of merchandise is $18,200) $28,000 6. Sold merchandise to customers who used credit cards to pay (cost of the merchandise is $8,400; fees withheld by credit card companies is $240) $12,000 Sold merchandise inventory under credit terms 2/10, n/30) to Smalltown Bookstore (cost of the merchandise is $720) $900 Returned merchandise inventory to University Supply Company 8 days after purchase $150 4. 7. 8. 9. Received merchandise returned by customers as unsatisfactory (but in perfect condition), for cash refund (original cost of the merchandise was $480) [you need \"two\" entries here, one related to \"sales\" and one related to \"inventory\"] $800 10. Purchased office supplies for future use in the store; paid cash $200 11. Paid cash to Consolidated Freightways for freight on purchased merchandise inventory $185 Paid the University Supply Company account (per #3 & 8 above) in full, though after the discount period had passed. $1,250 12. 13. 14. 15. Paid Acme Book Company (per \"4\" above) in full but within the 1 percent discount period. $14,850 Received payment from Smalltown Bookstore (per #7 above) within the discount period $882 Near the end of the year, purchased on credit $2,000 of furniture from Office Max for use in the store, plus paid 7 % sales tax. The bill is due in late January as terms were n/30. $2,140 2 Note: follow the instructions given under \"Required\" below with respect to recording the above transactions. After entering the 15 transactions given above make sure you agree with the check figures given under \"D\" below before beginning II (which follows). II. The following relates to information needed to make AJE's at December 30, 2016 [you can the \"adjusting entry\" box if you desire (this will designate the entry as an AJE on any reports generated)]. [note: in reality adjusting entries normally would be dated as of the year-end balance sheet date (though it really doesn't matter as long as dated in December), but in order to be able to run reports, to make it easier to find errors, etc. you are to date your AJEs as of December 30, 2016 rather than December 31, 2016] 16. A physical count of the supplies showed that $2,800 remain unused and on hand at December 30, 2016. [you need to adjust the G/L balance to this amount] 17. Deprecation for the month of December is $1,100 18. Estimated December utility costs are $360. 19. Accrued wages of $2,100 exist at December 31 20. The increase in the 2016 estimated tax accrual is $390. Note: follow the instructions given under \"Required\" below with respect to recording the above transactions. After entering the 5 transactions given above make sure you agree with the check figures given under \"D\" below before beginning III (which follows). III. \"Close\" all of the temporary accounts at December 31, 2016. Note: The main accounting learning objective for this problem is to understand the recording and reporting of the purchases and sales of inventory using a perpetual inventory system. Remember, that under a perpetual inventory system, any purchases of inventory and subsequent adjustments to the cost paid for that inventory are recorded directly into the inventory account [i.e. the \"historical cost principle is followed. Also remember that \"Sales Discounts\" only relate to the seller of goods (and not the buyer) and is normally not recorded until payment is received from the customer. A second learning objective is to better understand some of the end-of-the-year (month) accounting procedures, which includes making adjusting journal entries and closing entries. 3