Duffle bags sales price $295 ea. Backpacks $240 ea. Transaction need to be done for each date

7. 7%

13. 40,000

19. 10 Duffels

22. 40,000

Thank You

BEGINNING BALANCES: The inventory layers at 3/31/19 were as follows: o Duffels 45 duffles @ $150 each = $6,750 (first in) 72 duffles @ $130 each = $9,360 12 duffles @ $165 each = $1,980 (last in) o Backpacks 92 backpacks @ $79 each = $7,268 (first in) 60 backpacks @ $75 each = $4,500 8 backpacks @ $100 each = $800 38 backpacks @ $70 each = $2,660 (last in) An annual (12 month) rent payment of $54,000 was made on July 1, 2018. A note payable of $100,000 was taken out on January 1, 2018, and is due on June 30, 2019. 2019-2020 TRANSACTIONS: 1. On April 22nd, Baldwin purchased 35 duffle bags at $180 per bag on account 2. On April 28, Baldwin collected the cash for a receivable totaling a. If your first name starts with A-G; $4,000 b. If your first name starts with H-O; $5,500 c. If your first name starts with P-Z: $7,000 3. On May 7th, Baldwin purchased 50 backpacks at $72 per bag on account. 4. Upon receiving the May 7th backpack order, it was discovered that 12 backpacks had faulty stitching. All faulty bags were returned to the supplier on May 14th, and Baldwin's account was credited. 5. On June 30th, Baldwin recorded the individual in-shop sales for 89 duffles and 90 backpacks during the 1st quarter. All in-shop sales were cash sales. 6. On June 30th, Baldwin paid wages for the quarter of $14,280 plus paid the amount due for wages earned and not yet paid as of the previous quarter. You may ignore payroll taxes. 7. On June 30th, you realized that the bookkeeper forgot to accrue interest on the $100,000 note for the entire fiscal year ending March 30, 2019. Please make the correcting entry for interest due for the fiscal year ending March 30, 2019. The note required interest at the following percentage: a. If your last name starts with A-E; 5% b. If your last name starts with F-K; 7% c. If your last name starts with L-S; 9% d. If your last name starts with T-Z; 11% 8. On June 30th, all interest due was paid and the note was paid. 9. On June 30th, the 2018 annual rent payment expired. 10.On July 1st, Baldwin made the annual rent payment of $54,000 and recorded it as prepaid rent. Chart of Accounts Cash Accounts Receivable Prepaid Rent Merchandise Inventory Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Notes Payable Retained Earnings Income Summary Sales Sales Returns Purchases Purchase Returns Cost of Goods Sold Wage Expense Rent Expense Interest Expense Depreciation Expense BEGINNING BALANCES: The inventory layers at 3/31/19 were as follows: o Duffels 45 duffles @ $150 each = $6,750 (first in) 72 duffles @ $130 each = $9,360 12 duffles @ $165 each = $1,980 (last in) o Backpacks 92 backpacks @ $79 each = $7,268 (first in) 60 backpacks @ $75 each = $4,500 8 backpacks @ $100 each = $800 38 backpacks @ $70 each = $2,660 (last in) An annual (12 month) rent payment of $54,000 was made on July 1, 2018. A note payable of $100,000 was taken out on January 1, 2018, and is due on June 30, 2019. 2019-2020 TRANSACTIONS: 1. On April 22nd, Baldwin purchased 35 duffle bags at $180 per bag on account 2. On April 28, Baldwin collected the cash for a receivable totaling a. If your first name starts with A-G; $4,000 b. If your first name starts with H-O; $5,500 c. If your first name starts with P-Z: $7,000 3. On May 7th, Baldwin purchased 50 backpacks at $72 per bag on account. 4. Upon receiving the May 7th backpack order, it was discovered that 12 backpacks had faulty stitching. All faulty bags were returned to the supplier on May 14th, and Baldwin's account was credited. 5. On June 30th, Baldwin recorded the individual in-shop sales for 89 duffles and 90 backpacks during the 1st quarter. All in-shop sales were cash sales. 6. On June 30th, Baldwin paid wages for the quarter of $14,280 plus paid the amount due for wages earned and not yet paid as of the previous quarter. You may ignore payroll taxes. 7. On June 30th, you realized that the bookkeeper forgot to accrue interest on the $100,000 note for the entire fiscal year ending March 30, 2019. Please make the correcting entry for interest due for the fiscal year ending March 30, 2019. The note required interest at the following percentage: a. If your last name starts with A-E; 5% b. If your last name starts with F-K; 7% c. If your last name starts with L-S; 9% d. If your last name starts with T-Z; 11% 8. On June 30th, all interest due was paid and the note was paid. 9. On June 30th, the 2018 annual rent payment expired. 10.On July 1st, Baldwin made the annual rent payment of $54,000 and recorded it as prepaid rent. Chart of Accounts Cash Accounts Receivable Prepaid Rent Merchandise Inventory Equipment Accumulated Depreciation Accounts Payable Wages Payable Interest Payable Notes Payable Retained Earnings Income Summary Sales Sales Returns Purchases Purchase Returns Cost of Goods Sold Wage Expense Rent Expense Interest Expense Depreciation Expense