Does anyone have the entries and answers to Systems Understanding Aid 9th Edition (Accounting) for December 16-31, 2017? I am unsure where to even start.

Document No. 1 Transactions List December 16-31, 2017 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions, Flowcharts, and Ledgers book (step 5). Remember the importance of the systems flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other internal control procedures, (c) accounting entries, and (d) filing. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. Some of the following events require the preparation or modification of systems documents and some do not. Although systems documents accompany most business transactions, you are asked to prepare and work with only a representative sample in this project. Each event on the transactions list includes one of three symbols, which determine whether documents from the loose document set in this project must be prepared or used: You are required to prepare or modify documents from the loose document set for this event. An accounting entry may or may not be required. Yes You are not required to prepare or modify documents from the loose document set because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exception: the December 20 change in pay No rates. You are not required to prepare or modify documents from the loose document set, although this type of event would normally require you to do so. These events are included to provide additional practice in recording transactions. An accounting entry is required. No Hints are provided in boxed areas like this. December Received validated deposit receipt (Doc. No. 11) from the bank for $7,931.96 deposit made 18 Yes December 14. Follow flowchart on page 21. No recording occurs at this time. Cash receipts prelist is Doc. No. 9. File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. December Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No. 16). 18 Yes Ns Units Description Baskethall pole pad Basketball bag Portable inflation pump Trainer's first aid kit 120 80 30 75 Vendor address: 1285 Colgrove Avenue, Pierre, SD 57501 Interstate Motor Freight Collect (1.e., paid by Waren Sports Supply) None Freight carrier: Freight charges: Allowances: Follow flowchart on page 22. Use purchase order No. 325 (Doc. No. 16) as a guide. Use the price list (Doc. No. 3). No receiving or recording occurs at this point for this transaction. Tear document apart and file, following the flowchart guidance. Borrowed S60,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5%. Check No. 545 (Doc. No. 8) for ls $60,000 was received from the bank and deposited. Reviewed the terms and conditions of the Yes 18 note and signed it (Ray Kramer) as the borrower. Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply." See flowchart, page 21, for recording and depositing. Detach the bottom portion of the check and file in the Shipping/Banking file tab. File the note in the Shipping/Banking file tab. Ca Received customer purchase order No. 37225 (Doc. No. 4) in the mail from University of Southern lowa (USI), approved their credit and shipped the goods. All goods ordered were shipped, except that only 56 shoulder pad sets were available for shipment. 19 Yes Allied Trucking; Carrier number 2154 FOB shipping point; Billed to buyer (i.e., paid by USI) Express Truck 2961XZ, John Arens $19.00 per 100 Ibs. 3 cartons/goal and rim sets @ 40 Ibs./carton 5 cartons/backboards @ 150 Ibs./carton 7 cartons/shoulder pad sets @ 25 Ibs./carton 10 cartons/football helmets @ 16 Ibs./carton Carrier & number: Freight charges: Route: Truck & driver: ales Tournal Freight rate: Shipment: See flowchart, pages 18 and 19; follow all steps carefully. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book. December fk Aw chact Received sales return request No. R8034 (Doc. No. 12) in the mail from Eastern Wisconsin University (EWU). The request was approved and the acknowledgment copy mailed to EWU. 20 Yes No untry Follow the flowchart steps on page 20. Increased employee pay rates, and employees changed their federal income tax withholding amounts, both effective December 16. There were no changes in filing status or withholding allowances. 20 No New Federal Income Tax Withholding Amt. S415.00 $233.00 New Pay Rate $3,700.00 semimonthly $22.50 per hour S18.20 per hour No Ray Kramer Jim Adams Nancy Ford en try $ 74.00 No accounting entries are necessary, but you must update the pay rate history information in the Employee Earnings Subsidiary Ledger. Received merchandise from Velocity Sporting Goods as listed on purchase order No. 328. All merchandise listed on the purchase order was delivered in good condition and in the quantities ordered, except that only 76 basketball pole pads (Item No. BB-019) were received. The goods were placed immediately in the inventory warehouse. 22 Yes Purc hases Freight carrier: Freight bill: Interstate Motor Freight No. 26425 (Doc. No. 19), received with shipment Tournal Remember to follow the flowchart on page 22. You can't record a purchase yet because the invoice hasn't been received. Received check No. 28564 (Doc. No. 8) from Branch College for payment in full for charge invoice No. 730, and deposited the check. Yes 22 - Raciep Received legal notification from Benson, Rosenbrook, and Martinson, P.C., attorneys at law, that Stevenson College had filed bankruptcy and will be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. 22 No rural Journal Remember that Waren Sports Supply uses the "Allowance" method rather than "Direct write-off" for accounting for bad debts. Received all goods that Waren had authorized Eastern Wisconsin University (EWU) to return on EWU's return request No. R8034 for credit against their account balance. 26 Yes Process and record the sales return now. Journa l Received check No. 49326 (Doc. No. 8) for $10,000 from Eastern Wisconsin University in partial payment of the remaining amount (after sales return) on charge invoice No. 729, and deposited the check. 26 Yes Do not finalize a deposit slip until you determine whether there are other cash receipts on the same day. 3. December Received vendor invoice No. 34719 (Doc. No. 18) from Velocity Sporting Goods for goods ordered December 18 and received December 22. 26 Yes Purchases Follow the flowchart steps on page 22. Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 22. Tournal 26 Issued a check (Doc. No. 20) to Interstate Motor Freight for the amount of the freight bill (Doc. No. 19) for the Velocity Sporting Goods shipment received December 22. Yes Cash Dispurmunt/ Follow the flowchart steps on page 23. Paymen s Tnal Received check No. 65891 (Doc. No. 8) for $7,855 and customer purchase order No. D9794 (Doc. No. 4) in the mail from Andrews College for a cash sale. All goods ordered were shipped and the cash sale was processed and recorded. Yes 26 Cash Carrier & number: Interstate Motor Freight; Carrier number 62XY404 Collect (i.e., paid by Andrews College) Direct Freight charges: Route: Truck & driver: Reciepts Jounal Truck 64, Brian Ward $19.00 per 100 Ibs. 5 cartons/basketballs @ 35 lbs./carton 2 cartons/hip, tail, arm pad sets @ 7 Ibs./carton 4 cartons/footballs @ 19 Ibs./carton Freight rate: Shipment: Start with the flowchart on page 21. 26 Made a special promotional sale on account to Rosemont University. For the promotion, Waren agreed to a 20% reduction in the selling prices of the following items: No Sa les Quantity 45 Item No. Description Premium aluminum bat BA-054 Journal 12 BA-807 Pitching machine Received office supplies from Chicago Office Supply as listed on purchase order No. 327 (Doc. No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, but the invoice was not paid. 26 Yes puchases Tournal Sold a desk to Jim Adams for $250. Jim will pay this amount to Waren in January of 2018. The desk was purchased for a cost of $1,225 on September 30, 2011, along with other office furniture costing $49,525 (total purchase was $50,750). The desk was fully depreciated at the end of 2016. No 26 General Jaurnal Add a new general ledger account on page 36. Assign it G/L #10210 - Accounts Receivable from Employees. Be sure to include this account in the proper section of Waren's 2017 financial statements. Do not be concerned that the new account is out of sequence in the G/L. Waren reorganizes its chart of accounts and G/L at the beginning of a new fiscal year. Don't forget to update the fixed asset subsidiary ledger on pages 42-43. December Cash Rinph Received check No. 40/4 from Central Brokerage for $1,100 of dividend income. The dividends were carned on various common stocks in the marketable securities general ledger accoum. 26 No Issued check (Doc. No. 20) to Velocity Sporting Goods for payment in full of their invoice No. 34719 for goods received December 22. 28 Yes Consider the credit terms before making the payment. cash No Rucirph Received check No. 14002 for $9,678.48 from Rosemont University in paymet of the promotional sale on account made December 26. 28 Recall that the original sale was made at a 20% promotional discount. Because Rosemont paid within ten days of the original sale, be sure to record the applicable discount. Yes 29 Printed and reviewed pavroll time record reports (Doc. No. 21) for Ford and Adams for the time period ended December 31 and prepared the payroll for all three employees, including paychecks. Payra!! Journal Paychecks are considered "Mailed/Given to Outsiders." Time record reports are filed in the "Accounting" file tab. Recall that federal income tax withholding amounts were listed earlier with employee pay rate increases. 29 Received the 11-inch tablets ordered on Waren's purchase order No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The tablets were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage value. Yes parchanes Journal 29 Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc. Yes Cash dispurumunt No. 20) for payment in full. Purchase orders are not issued for services that Waren purchases. Purchased 175 shares of Naretta Corporation common stock for $21.00 per share plus 29 CAsh dispar. No commission of $110.00. Immediately issued a check payable to Central Brokerage. The Board of Directors declared a $2.50 per share dividend on the 3000 shares of $75 par value common stock outstanding. The dividends will be payable on January 31, 2018, to all stockholders of record as of January 25, 2018. 29 No General Journal Add a new general ledger account on page 36. Assign it G/L #29010 - Dividends Declared. Be sure to include this account in the proper section of Waren's 2017 financial statements. Issued check to First American Bank and Trust for $13,000 for partial payment on the bank note, which included no payment for interest. The terms on the back of the bank note stipulate that prepayments can be made without early payment penalty. For purposes of the year-end adjusting entry for accrued interest that you will be making later, assume that this payment was not received by the bank until January 2, 2018. 29 No Cash Disp. 5. December Issued check for $4,200 to First Security Insurance for the premium on Waren's six-month liability insurance policy. The policy period runs from December 1, 2017, to June 1, 2018. 29 No Cash Disp. Remember to consider the time period to which this expenditure applies. Sold 150 shares of Green Corporation common stock for $26.00 per share. The shares ware 29 orieinally purchased on July 11, 2017, for $22.00 per share plus a commission of $85, Central Bmokerass retained a commission of S75 on the sale and forwarded check No. 4289 for the per No Cash Reciepts sale proceeds to Waren. Calculate and record the gain or loss on the sale of the marketable securities, Be sure to consider the effects of both the purchase and sale commission expenses. sa fied Loaned $7,000 to Maple Valley Electric by issuing a four-year note receivable with a stated 29 annual interest rate of 6%. The funds were loaned by issuing a check. Interest payments of $420.00 are due on December 31 of each year, beginning in 2018. The entire principal is due four years from December 31, 2017. No Cash Dparumunte The company signed an agreement to sublease an office in its building to Campos & Associates 29 at a monthly rental rate of $1,100. In connection with the sublease, Waren received check No. 55941 for $3,300 from Campos & Associates covering rent for the first quarter of 2018. No Cash Reciepts Add a new general ledger account on page 36. Assign it G/L #21100 - Unearned Revenue. Be sure to include this account in the proper section of Waren's 2017 financial statements. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the Instructions, Flowcharts, and Ledgers book and complete all the month-end procedures. An additional month- end requirement for this project is: Monthly Statement - Yes Prepare a monthly statement (Doc. No. 15) for Eastern Wisconsin University. YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the Instructions, Flowcharts, and Ledgers book and complete all the year-end procedures. Additional information. for the year-end procedures is: Ending Inventory - No A physical inventory was taken 1/1/18, before business began for the new year. Merchandise on hand cost $183,744.00. Bad Debt Expense - No The expense for bad debts is estimated at the end of the year as one- fifth of one percent (0.002) of net sales. Marketable Securities - No At December 31, 2017, the market value of marketable securities held by Waren approximated the cost of the securities. The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts. Document No. 1 Transactions List December 16-31, 2017 Complete each of the following transactions in accordance with the seven-step process on pages 11-12 of the Instructions, Flowcharts, and Ledgers book (step 5). Remember the importance of the systems flowcharts on pages 18-24 for details as to (a) documents to prepare, (b) approvals and other internal control procedures, (c) accounting entries, and (d) filing. You are to perform the roles of Ray Kramer, Nancy Ford, and Jim Adams. Some of the following events require the preparation or modification of systems documents and some do not. Although systems documents accompany most business transactions, you are asked to prepare and work with only a representative sample in this project. Each event on the transactions list includes one of three symbols, which determine whether documents from the loose document set in this project must be prepared or used: You are required to prepare or modify documents from the loose document set for this event. An accounting entry may or may not be required. Yes You are not required to prepare or modify documents from the loose document set because documents would not normally be prepared or modified for this type of event. An accounting entry is required, with one exception: the December 20 change in pay No rates. You are not required to prepare or modify documents from the loose document set, although this type of event would normally require you to do so. These events are included to provide additional practice in recording transactions. An accounting entry is required. No Hints are provided in boxed areas like this. December Received validated deposit receipt (Doc. No. 11) from the bank for $7,931.96 deposit made 18 Yes December 14. Follow flowchart on page 21. No recording occurs at this time. Cash receipts prelist is Doc. No. 9. File Doc. No. 9 and Doc. No. 11 in the Temporary file tab. December Ordered the following inventory on account from Velocity Sporting Goods, using purchase order No. 328 (Doc. No. 16). 18 Yes Ns Units Description Baskethall pole pad Basketball bag Portable inflation pump Trainer's first aid kit 120 80 30 75 Vendor address: 1285 Colgrove Avenue, Pierre, SD 57501 Interstate Motor Freight Collect (1.e., paid by Waren Sports Supply) None Freight carrier: Freight charges: Allowances: Follow flowchart on page 22. Use purchase order No. 325 (Doc. No. 16) as a guide. Use the price list (Doc. No. 3). No receiving or recording occurs at this point for this transaction. Tear document apart and file, following the flowchart guidance. Borrowed S60,000 from First American Bank and Trust by issuing a two-year note payable (Doc. No. 14) with a stated annual interest rate of 5%. Check No. 545 (Doc. No. 8) for ls $60,000 was received from the bank and deposited. Reviewed the terms and conditions of the Yes 18 note and signed it (Ray Kramer) as the borrower. Restrictively endorse means to write the following on the back of the check: "For deposit only. Waren Sports Supply." See flowchart, page 21, for recording and depositing. Detach the bottom portion of the check and file in the Shipping/Banking file tab. File the note in the Shipping/Banking file tab. Ca Received customer purchase order No. 37225 (Doc. No. 4) in the mail from University of Southern lowa (USI), approved their credit and shipped the goods. All goods ordered were shipped, except that only 56 shoulder pad sets were available for shipment. 19 Yes Allied Trucking; Carrier number 2154 FOB shipping point; Billed to buyer (i.e., paid by USI) Express Truck 2961XZ, John Arens $19.00 per 100 Ibs. 3 cartons/goal and rim sets @ 40 Ibs./carton 5 cartons/backboards @ 150 Ibs./carton 7 cartons/shoulder pad sets @ 25 Ibs./carton 10 cartons/football helmets @ 16 Ibs./carton Carrier & number: Freight charges: Route: Truck & driver: ales Tournal Freight rate: Shipment: See flowchart, pages 18 and 19; follow all steps carefully. You will use several documents and record an entry in the sales journal and the accounts receivable subsidiary ledger for this transaction. For guidance in preparing the bill of lading, see pages 35-36 of the Reference book. December fk Aw chact Received sales return request No. R8034 (Doc. No. 12) in the mail from Eastern Wisconsin University (EWU). The request was approved and the acknowledgment copy mailed to EWU. 20 Yes No untry Follow the flowchart steps on page 20. Increased employee pay rates, and employees changed their federal income tax withholding amounts, both effective December 16. There were no changes in filing status or withholding allowances. 20 No New Federal Income Tax Withholding Amt. S415.00 $233.00 New Pay Rate $3,700.00 semimonthly $22.50 per hour S18.20 per hour No Ray Kramer Jim Adams Nancy Ford en try $ 74.00 No accounting entries are necessary, but you must update the pay rate history information in the Employee Earnings Subsidiary Ledger. Received merchandise from Velocity Sporting Goods as listed on purchase order No. 328. All merchandise listed on the purchase order was delivered in good condition and in the quantities ordered, except that only 76 basketball pole pads (Item No. BB-019) were received. The goods were placed immediately in the inventory warehouse. 22 Yes Purc hases Freight carrier: Freight bill: Interstate Motor Freight No. 26425 (Doc. No. 19), received with shipment Tournal Remember to follow the flowchart on page 22. You can't record a purchase yet because the invoice hasn't been received. Received check No. 28564 (Doc. No. 8) from Branch College for payment in full for charge invoice No. 730, and deposited the check. Yes 22 - Raciep Received legal notification from Benson, Rosenbrook, and Martinson, P.C., attorneys at law, that Stevenson College had filed bankruptcy and will be unable to pay any of its outstanding debts to its suppliers. Write off the account as a bad debt. 22 No rural Journal Remember that Waren Sports Supply uses the "Allowance" method rather than "Direct write-off" for accounting for bad debts. Received all goods that Waren had authorized Eastern Wisconsin University (EWU) to return on EWU's return request No. R8034 for credit against their account balance. 26 Yes Process and record the sales return now. Journa l Received check No. 49326 (Doc. No. 8) for $10,000 from Eastern Wisconsin University in partial payment of the remaining amount (after sales return) on charge invoice No. 729, and deposited the check. 26 Yes Do not finalize a deposit slip until you determine whether there are other cash receipts on the same day. 3. December Received vendor invoice No. 34719 (Doc. No. 18) from Velocity Sporting Goods for goods ordered December 18 and received December 22. 26 Yes Purchases Follow the flowchart steps on page 22. Upon receiving the invoice, you can now record the purchase using the date on which Waren incurred the liability for the goods, December 22. Tournal 26 Issued a check (Doc. No. 20) to Interstate Motor Freight for the amount of the freight bill (Doc. No. 19) for the Velocity Sporting Goods shipment received December 22. Yes Cash Dispurmunt/ Follow the flowchart steps on page 23. Paymen s Tnal Received check No. 65891 (Doc. No. 8) for $7,855 and customer purchase order No. D9794 (Doc. No. 4) in the mail from Andrews College for a cash sale. All goods ordered were shipped and the cash sale was processed and recorded. Yes 26 Cash Carrier & number: Interstate Motor Freight; Carrier number 62XY404 Collect (i.e., paid by Andrews College) Direct Freight charges: Route: Truck & driver: Reciepts Jounal Truck 64, Brian Ward $19.00 per 100 Ibs. 5 cartons/basketballs @ 35 lbs./carton 2 cartons/hip, tail, arm pad sets @ 7 Ibs./carton 4 cartons/footballs @ 19 Ibs./carton Freight rate: Shipment: Start with the flowchart on page 21. 26 Made a special promotional sale on account to Rosemont University. For the promotion, Waren agreed to a 20% reduction in the selling prices of the following items: No Sa les Quantity 45 Item No. Description Premium aluminum bat BA-054 Journal 12 BA-807 Pitching machine Received office supplies from Chicago Office Supply as listed on purchase order No. 327 (Doc. No. 16), a copy of which is being held in accounting. Chicago Office Supply's vendor invoice No. 2378 (Doc. No. 18) was received with the goods. All supplies ordered were received in good condition and taken directly to the office, but the invoice was not paid. 26 Yes puchases Tournal Sold a desk to Jim Adams for $250. Jim will pay this amount to Waren in January of 2018. The desk was purchased for a cost of $1,225 on September 30, 2011, along with other office furniture costing $49,525 (total purchase was $50,750). The desk was fully depreciated at the end of 2016. No 26 General Jaurnal Add a new general ledger account on page 36. Assign it G/L #10210 - Accounts Receivable from Employees. Be sure to include this account in the proper section of Waren's 2017 financial statements. Do not be concerned that the new account is out of sequence in the G/L. Waren reorganizes its chart of accounts and G/L at the beginning of a new fiscal year. Don't forget to update the fixed asset subsidiary ledger on pages 42-43. December Cash Rinph Received check No. 40/4 from Central Brokerage for $1,100 of dividend income. The dividends were carned on various common stocks in the marketable securities general ledger accoum. 26 No Issued check (Doc. No. 20) to Velocity Sporting Goods for payment in full of their invoice No. 34719 for goods received December 22. 28 Yes Consider the credit terms before making the payment. cash No Rucirph Received check No. 14002 for $9,678.48 from Rosemont University in paymet of the promotional sale on account made December 26. 28 Recall that the original sale was made at a 20% promotional discount. Because Rosemont paid within ten days of the original sale, be sure to record the applicable discount. Yes 29 Printed and reviewed pavroll time record reports (Doc. No. 21) for Ford and Adams for the time period ended December 31 and prepared the payroll for all three employees, including paychecks. Payra!! Journal Paychecks are considered "Mailed/Given to Outsiders." Time record reports are filed in the "Accounting" file tab. Recall that federal income tax withholding amounts were listed earlier with employee pay rate increases. 29 Received the 11-inch tablets ordered on Waren's purchase order No. 325 (Doc. No. 16) and vendor invoice No. 2423 (Doc. No. 18) from Chicago Office Supply. The tablets were received in new and undamaged condition and taken directly to the office. The estimated useful life is 5 years with no salvage value. Yes parchanes Journal 29 Received vendor invoice No. 72654 (Doc. No. 18) from University Athletic News for advertisements Waren ran during the Christmas season and immediately issued a check (Doc. Yes Cash dispurumunt No. 20) for payment in full. Purchase orders are not issued for services that Waren purchases. Purchased 175 shares of Naretta Corporation common stock for $21.00 per share plus 29 CAsh dispar. No commission of $110.00. Immediately issued a check payable to Central Brokerage. The Board of Directors declared a $2.50 per share dividend on the 3000 shares of $75 par value common stock outstanding. The dividends will be payable on January 31, 2018, to all stockholders of record as of January 25, 2018. 29 No General Journal Add a new general ledger account on page 36. Assign it G/L #29010 - Dividends Declared. Be sure to include this account in the proper section of Waren's 2017 financial statements. Issued check to First American Bank and Trust for $13,000 for partial payment on the bank note, which included no payment for interest. The terms on the back of the bank note stipulate that prepayments can be made without early payment penalty. For purposes of the year-end adjusting entry for accrued interest that you will be making later, assume that this payment was not received by the bank until January 2, 2018. 29 No Cash Disp. 5. December Issued check for $4,200 to First Security Insurance for the premium on Waren's six-month liability insurance policy. The policy period runs from December 1, 2017, to June 1, 2018. 29 No Cash Disp. Remember to consider the time period to which this expenditure applies. Sold 150 shares of Green Corporation common stock for $26.00 per share. The shares ware 29 orieinally purchased on July 11, 2017, for $22.00 per share plus a commission of $85, Central Bmokerass retained a commission of S75 on the sale and forwarded check No. 4289 for the per No Cash Reciepts sale proceeds to Waren. Calculate and record the gain or loss on the sale of the marketable securities, Be sure to consider the effects of both the purchase and sale commission expenses. sa fied Loaned $7,000 to Maple Valley Electric by issuing a four-year note receivable with a stated 29 annual interest rate of 6%. The funds were loaned by issuing a check. Interest payments of $420.00 are due on December 31 of each year, beginning in 2018. The entire principal is due four years from December 31, 2017. No Cash Dparumunte The company signed an agreement to sublease an office in its building to Campos & Associates 29 at a monthly rental rate of $1,100. In connection with the sublease, Waren received check No. 55941 for $3,300 from Campos & Associates covering rent for the first quarter of 2018. No Cash Reciepts Add a new general ledger account on page 36. Assign it G/L #21100 - Unearned Revenue. Be sure to include this account in the proper section of Waren's 2017 financial statements. MONTH-END PROCEDURES - After you have recorded all the transactions, go to page 12 of the Instructions, Flowcharts, and Ledgers book and complete all the month-end procedures. An additional month- end requirement for this project is: Monthly Statement - Yes Prepare a monthly statement (Doc. No. 15) for Eastern Wisconsin University. YEAR-END PROCEDURES - After completing all the month-end procedures, go to page 14 of the Instructions, Flowcharts, and Ledgers book and complete all the year-end procedures. Additional information. for the year-end procedures is: Ending Inventory - No A physical inventory was taken 1/1/18, before business began for the new year. Merchandise on hand cost $183,744.00. Bad Debt Expense - No The expense for bad debts is estimated at the end of the year as one- fifth of one percent (0.002) of net sales. Marketable Securities - No At December 31, 2017, the market value of marketable securities held by Waren approximated the cost of the securities. The project is now complete. Good work! Review your materials to make certain everything is finalized. Complete the filing of documents, records, and working papers using the file tabs and the envelope in which the Aid is packaged. File all materials as indicated in the flowcharts