GOLF PRO SHOP WORKSHEET December 31, 2019 (Periodic Inventory Method) Trial Balance Debit Adjustments Debit Income Statement Debit Balance Sheet Debit Credit Credit Credit Credit 44,056 8.470 3,500 5.000 10,000 Cash Accounts Receivable Merchandise Inventory Prepaid Store Insurance Store Equipment Accounts Payable Capital Sales Sales Returns and Allowances Purchases Purchase Discounts Freight in Office Salary Expense 10.000 56.000 10.200 2.260 196 80 3.000 Total 76,396 76,396 Adjustment Data: A physical merchandise inventory taken on Dec. 31 amounted to $3,200 Expired Insurance, $1,000 as of December 31, 2019 The store equipment purchased has an estimated useful life of 5 years. Required a) Prepare Worksheet on December 31, 2019 b) Prepare a Multiple Step Income Statement c) Compute the Amount of Ending Capital d) Prepare Closing Entries