Date 2-Jan 8-Jan 16-Jan 24-Jan Transactions - January 2021 On January 2nd, Auggle Gear purchased and received 3,000 t-shirts, purchased on account, with plans of selling the shirts to the campus book store. The t-shirts cost $3 each On January 8th, Augie Gear purchased and received another 1,750 t-shirts on account that you plan to sell to customers throughout the year. The t-shirts cost $$ each On January 15th, you paid employees of Auggie Gear their wages of 56,200 for the pay period from 1/1/21 - 1/15/21. On January 24th, Auggie Gear purchased and received 600 more t-shirts on account that they plan to sell to customers throughout the year, The T-shirts cost $5.75 each On January 30th, sold 1,000 t-shirts on account for $15 per shirt. Auggie Gear uses UFO as their inventory costing method. On January 31st Auggie Gear sold an additional 2,000 t-shirts for $15 per shirt. The customer paid $500 cash on the date of purchase, and will pay the remaining balance due on February 28th. You owe your employees wages for the pay period from 1/16/21 through 1/31/21 totaling $6,350. The wages will be paid on February 2nd, 2021 30-Jan 31 Jan 31-Jan + 25-Jan Auggie Gear management elects to utilize the "Percentage of Credit Sales" method to estimate their bad debt each month. Based on her history with a similar business, your manager estimates that you ultimately won't collect 2.0% of sales made on account during the month. Ledger Accounts (T-Accounts) Chart of Accounts Cash Accounts Receivable Allowance for Doubtful Accounts Prepaid Rent Inventory Accounts Payable Deferred Revenue Wages Payable Notes Payable Common Stock Retained Eamings Sales Revenue Service Revenue Cost of Goods Sold Bad Debt Expense Supplies Expense Wage Expense Instructions - For each transactions "a" through "h" below: 1) First, record the necessary joumal entry (utilize the "Chart of Accounts" below). 2) After recording each entry, post the effects of the Joumal Entry to the appropriate T-accounts. 3) Utilizing the ending balances in each T-account to complete the financial statements on the second tab of this document