dont worry about the highlighted part on the balance sheet, I just need questions 22,23,5 and 6 answered

22 On August 7, sold merchandise to Lynn on account $20,000, term 1/10, 1/30, FOB shipping point. 23 On August 15, Lynn paid off its balance. returns & allowances accounts Over the year, daily cash sales were $20,000 on average. 5 6 Over the year, sales and office employees earned $60,000 in salaries and wages, of which $2,500 remained as payable at the end of year Fall 2021 Assignments Required: 1) Making journal entries for each transaction in chronological order 2) Prepare adjusting entries and adjusted trial balance 3) Prepare Income Statement, Retained Eamings Statement, and Balance Sheet 4) Making closing entries. 5) Put all your work on excel spreadsheet Each group should submit one completed copy 120,000 6.000 43.250 2.145 6,500 2,500 4,000 2,000 186,395 The 2021 Balance Sheet of the Washington Co. is as follows: Washington Co. Balance Sheet As of December 31, 2020 Current Assets Current Liabilities Cash 44,400 Notes Payable Notes Receivable 16,000 Accounts Payable Accounts Receivable 34.730 Unearned Revenue Less: Allowance for Doubtful A/Cs -2,930 Property Tax Payable Interest Receivable 1,000 Income Tax Payable Inventories 61,000 Salary and Wages Payable Prepaid Insurance 3,000 Utilities Payable Prepaid Rent 4,800 Interest Payable Total Current Assets 162,000 Total Current Liabilities Non-Current Assets Non-Current Liabilities Long-term Investments 28,000 Provisions Related to Pensions Investments in securities 51,000 Bonds Payable Land for future development 47,000 Total Non-Current Liab. Property, Plant, and Equipment Total Liabilities Land 165,000 Common Stock Buildings 660,000 Preferred Stock Less: Accu Depreciation -220,000 Paid-in-capital - Common Stock Intangible Assets 59,000 Paid-in-capital - Preferred Stock Capitalized Development Costs 8,000 Retained Earnings Goodwill 90,000 Accu. Other Comp, Income Other Intangible Assets 50,000 Less: Treasury Stock Total Non-Current Assets 938,000 Total Shareholders' Equity 93,100 300.000 393,100 579,495 150,000 100,000 80,500 10,000 195,005 -5,000 -10,000 520,505 Assignments Required: 1) Making journal entries for each transaction in chronological order. 2) Prepare adjusting entries and adjusted trial balance. 3) Prepare Income Statement, Retained Earnings Statement, and Balance Sheet. 4) Making closing entries. 120,000 6,000 43,250 2,145 6,500 2,500 4,000 2,000 186,395 Current Assets Cash Notes Receivable Accounts Receivable Less Allowance for Doubtful ACs Interest Receivable Inventories Prepaid Insurance Prepaid Rent Total Current Assets Non-Current Assets Long-term Investments Investments in securities Land for future development Property, Plant, and Equipment Land Buildings Less: Accu. Depreciation Intangible Assets Capitalized Development Costs Goodwill Other Intangible Assets Total Non-Current Assets Balance Sheet As of December 31, 2020 Current Liabilities 44,400 Notes Payable 16.000 Accounts Payable 34,730 Uneared Revenue -2,930 Property Tax Payable 1,000 Income Tax Payable 61,000 Salary and Wages Payable 3,000 Utilities Payable 4,800 Interest Payable 162,000 Total Current Liabilities Non-Current Liabilities 28,000 Provisions Related to Pensions 51,000 Bonds Payable 47,000 Total Non-Current Liab. Total Liabilities 165,000 Common Stock 660,000 Preferred Stock -220,000 Paid-in-capital - Common Stock 59,000 Paid-in-capital - Preferred Stock 8,000 Retained Earnings 90,000 Accu. Other Comp. Income 50,000 Less: Treasury Stock 938,000 Total Shareholders' Equity 93,100 300,000 393,100 579,495 150,000 100,000 80,500 10,000 195,005 -5,000 -10,000 520,505