Question
HOW TO DO STEP BY STEP:265Comprehensive Case Problems Appendix 2Case 6 Comprehensive ProblemCase 6, which begins in Chapter 3, is a Recreational Vehicle (RV) dealership
HOW TO DO STEP BY STEP:265Comprehensive Case Problems Appendix 2Case 6 Comprehensive ProblemCase 6, which begins in Chapter 3, is a Recreational Vehicle (RV) dealership in the state of Washington. Theysell new RVs and related accessories to individuals and businesses. In addition, they repair and service RVs.Business events in Case 6 occurred from 12/31/22 to 1/31/23 when presented in Chapters 3 to 10. The following is adescription of business events that occurred in the month of February 2023.DateDescription ofEvent Chapter Event2/1/23 Add a newvendor5 Add a new vendor R-Pod, 888 SE Sheridan Road, Sheridan, OR 97378, terms: Net 30.2/2/23 Add new product 4 Add a new product Name/Description/Purchasing information: RP-171, initial quantityon hand: 0, as of date: 2/2/23, inventory asset account: Inventory, Sales price: $26,900,cost: $21,520, income account: Sales of Product Income, expense account: Cost ofGoods Sold, Sales tax category: Taxable standard rate, Preferred vendor: R-Pod.2/2/23 Change thename of aproduct4 Change the name/description of the service Basic 6,000-mile service to Basic 8,000-mileservice.2/2/23 Add a newproduct4 Add a new product Name/Description/Purchasing information: RP-179, initial quantityon hand: 0, as of date: 2/2/23, inventory asset account: Inventory, Sales price: $22,800,cost: $18,240, income account: Sales of Product Income, expense account: Cost ofGoods Sold, Sales tax category: Taxable standard rate, Preferred vendor: R-Pod.2/3/23 Add a newservice4 Add a new service Detailing, rate: $50, income account: Sales, Sales tax category:Nontaxable.2/3/23 Modify budget 8 Modify the following monthly budgeted amounts (Budget 1) for February 2023 as fol-lows: sales of product income: $400,000, sales: $15,000, cost of goods sold: $320,000,advertising & marketing: $18,000, contractors: $3,000, insurance: $4,000, interestexpense: $600, payroll: $22,000, repairs: $700, utilities: $5,000, and depreciation:$1,200. Leave budgets for March through December as is.2/3/23 Add a newemployee7 Add a new employee Anastasia Quinn, 507 N 169th St., Shoreline, WA 98133, SocialSecurity No.: 555-54-1111.2/3/23 Add a bill 5 Add a bill from Pacific Marketing, terms: Net 15, for advertising performed last month,for $1,800. This bill was accrued as of 1/31/23. You will reverse this accrual at the end ofthis month.2/4/23 Add a newcustomer4 Add a new customer Apple Travel, terms: Net 30.2/6/23 Add a salesreceipt4 Add a new sales receipt #1003 New customer: Rose Ski, 241 St., Andrews Way, SantaMaria, CA 93454, payment method: Check, reference no.: 355, deposit to: Undepos-ited Funds, product: 2022 Winnebago Revel 44E, price: $150,000 quantity: 1, amountreceived: $163,950.2/7/23 Add a newpurchase order5 Add a new purchase order #1003 to purchase two RP-171 and three RP-179 trailers fromvendor R-Pod for a total cost of $97,760.2/8/23 Add a newpurchase order5 Add a new purchase order #1004 to purchase two 2023 Thor Motor Coach Palazzo 33.2motorhomes from vendor Thor Motor Coach for a total cost of $288,000.2/8/23 Add a newinvoice4 Add a new invoice #1004 for $108,207 Customer: Apple Travel, terms: Net 30, prod-uct: one 2023 Airstream Flying Cloud 27FB TWIN. (Click See the math to updateamounts.)2/10/23 Add a newinvoice4 Add a new invoice #1005 for $700 Customer: Rose Ski, terms: Net 30, service: oneBasic 8,000-mile service and five hours of Detailing.2/13/23 Receive payment 4 Receive payment Customer: Deja Smith, payment method: Check, deposit to: Undepos-ited Funds, amount received: $153,020 (related to invoice: #1002).2/14/23 Pay bills 5 Pay $322,000 in bills from Winnebago, Inc., and Pacific Marketing, using checks no. 601and 602
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