Golden Wedding Dress Company designs custom wedding dresses for brides to be the person preparing the adjusting entries year-end was unable to complete the adjustments due to illness. You have been given the following unadjusted trial balance song with some additional information for the December 31, 2020 year end $ Account Accounts receivable Accum deprec: building Acum deprec., equipment Advance sale Allowance for doubtful accounts Building Cash Equipment Estimated warranty liability Unajute Balance Aco 5 37.600 Land 135,000 Merchandise Inventory 351.000 Morts payable 235,000 Sarah Golden, capital The Note pable 453,000 other operating expenses 80,000 Sales 657,000 salaries & dein wense 5,100 Salus returns and allowances Balance 140,000 7). 233,41 225, 222 1.1.00 1,162,00 4. 1. Other information 1. Assume all accounts have a normal balance. 2.75% of the balance in the Advance Sales account is for wedding dresses to be made and delivered by Golden during 2021: the remaining 25% is from sales earned during 2020 3. Golden warranties its wedding dresses against defects and estimates its warranty liability to be 25 of adjusted net sales 4. The 3%, 5-year note payable was issued on October 1, 2020; interest is payable annually each September 30 5. The mortgage is paid annually on the first day of the next year. The next mortgage payment will be paid consisting of 59.338 interest and $24.941 principal for a total of $34.279. 6. Uncollectible accounts are estimated to be 15% of outstanding receivables 7. A physical count of the inventory showed a balance actually on hand of $63,500 8. Sarah promised her operations manager a year-end performance bonus of $2,524, which would be paid with her salary in January for high sales achieved this year, SU View transaction ist Journal entry worksheet 1 2 3 4 5 6 7 > Record to adjust for earned sales Note: Enter debts before credits General Journal Date December 31, 2020 Debit Credit Record entry Clear entry View general Journal FE Next ournal entry worksheet 3 1 3 4 5 6 7 > Record the estimated warranty liability, ote: Enter debits before credits General Journal Debit Credit Date December 31, 2020 View general Journal Clear entry Record entry 2 C 4 5 6 7 > Record the accrual of interest expense on the note payable, Note: Enter debits before credits General Journal Debit Credit Date December 31, 2020 Record entry Clear entry View general journal Journal entry worksheet Record to adjust for earned sales Note: Enter debts before credits General Journal Date December 31, 2020 Debit Credit Record entry Clear entry View general Journal FE Next ournal entry worksheet 3 1 3 4 5 6 7 > Record the estimated warranty liability, ote: Enter debits before credits General Journal Debit Credit Date December 31, 2020 View general Journal Clear entry Record entry 2 C 4 5 6 7 > Record the accrual of interest expense on the note payable, Note: Enter debits before credits General Journal Debit Credit Date December 31, 2020 Record entry Clear entry View general journal Journal entry worksheet
