ernet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing MERCHANDISE COMPANY Oct. 1: Owner invests cash $35,000 and a building worth $62,000 7: Buy supplies on account, $2,700 8: Pay $800 of the amount due on the supplies 15: Purchase $11,000 of merchandise on account 19: Return $1,700 of the merchandise 25: Pay for the purchase (2/10 N/30) 27: Sell some merchandise for $17,000 on account (Cost = 2,800) 29: Draw $3,200 cash 30: Pay advertising, $600 cash INSTRUCTIONS A. Journalize the above transactions B. Post to the T-accounts C. Do a trial balance (dated Oct. 31st) D. Do adjusting journal entries, as follows: 1. Building depreciation is $3,300 2. Supplies used = $1,400 3. Receive telephone bill, $650 (not paying now) E. Post the adjusting entries to the T-accounts F. Do an adjusted trial balance G. Prepare the financial statements: 1. Income statement 2. Capital statement 3. Balance sheet H. Journalize closing entries 1. Post the closing entries to the T-account J. Do a post-closing trial balance