File Home insert Draw Design Layout References Mailings Review View Heip Accounting 1 C Module V Name: Score: DLC: Address: MODULE TEST 1. Selected transactions at 6. m Trading during the rst 15 days ofJanuary 2011 were as tollows: (50 points) Cash sales of merchandise Php50,000 Sales of merchandise on account 15,000 Stare supplies purchased on account Purchased of merchandise for cash M Purchased of merchandise on account 20,000 Freight paid on merchandise purchased M Purchase discounts enjoyed m Wages paid forthe period m Defective merchandise returned by Customer, sold on account & Returned defective merchandise purchased for cash m Transactions during the second half of the month: Cash sales 105,000 Sales on account 27,000 Freight paid on cash sales Purchases a) Php35,000, terms 2110, nl30 (paid Within discount period) b) Phpapoo, terms 10 , 10%, 5/5, n/30 [paid Within discount period) c) Php9,000, terms 010, N30 (paid beyond discount period) it) Php12,000 cash purchases, FOB destination (freight, Php1,200) Wages paid for the second hall of the month 10,000 Unpaid wages at the end of month 1,800 Utilities expense for the month (unpaid) 1,800 interest earned on deposits 1,200 P3921912 223mm; 2;; Englishwnitedstates] i6 Share D Comments Additional information: Merchandise inventory at the beginning of the month 8,000 Merchandise inventory at the end of the month 42,000 Store supplies on hand at lhe end 01 the month 900 REQUIRED: Prepare a multi-step income statement for the period ended January 31, 2011, E++wm