I am having a hard time solving this problem from Chapter 5 in the Book of Fundamental Accounting Principles edition 15 volume 1. thank you

Required 1. Record and post the appropriate closing entries. 2. Prepare a post-closing trial balance. Chapter 5 Cumulative Comprehension Problem: Echo Systems Echo Systems-perpetual or periodic Note: Solutions are available for both perpetual and periodic. (The first three segments of this comprehensive problem were presented in Chapters 2, 3, and 4. If those segments have not been completed, the assignment can begin at this point. However, you should use the Working Papers that accompany this text because they reflect the account balances that resulted from posting the entries required in Chapters 2, 3, and 4.) Cumulative Comprehension Working Papers CHECK FIGURES: 4. Profit = $23,198; 6. Total current assets = $162,358; Total assets $208,858 Earlier segments of this problem have described how Mary Graham created Echo Systems on October 1 2017. The company has been successful, and its list of customers has started to grow. To accommodate the growth, the accounting system is ready to be modified to set up separate accounts for each customer The following list of customers includes the account number used for each account and any balance as of the end of 2017. Graham decided to add a fourth digit with a decimal point to the 106 account number that had been used for the single Accounts Receivable account. This modification allows the existing chart of accounts to continue being used. The list also shows the balances that two customers owed as of December 31, 2017: Customer Account Dec. 31 Balance Alamo Engineering Co... 106.1 Buckman Services 106.2 Capital Leasing ... 106.3 Decker Co 106.4 $2.700 Elite Corporation. 106.5 Fostek. Co................ 106.6 $3.000 Grandview Co.......... 106.7 Haciendo, inc....................... 106.8 Images, Inc.... 106.9 Click here for a description of Table: Cumulative Comprehension Problem. Page 3 In response to frequent requests from customers, Graham has decided to begin selling computer software. The company will extend credit terms of 1/10, 1/30 to customers who purchase merchandise No cash discount will be available on consulting revenue. The following additional accounts were added to the general ledger to allow the system to account for the company's new merchandising activities: Account (Perpetual) No. Merchandise Inventory Sales...... Sales Discounts ................ 414 Sales Returns and Allowances.... 415 Cost of Goods Sold.... ... ... 502 Click here for a description of Table: Cumulative Comprehension Problem Account (Perpetual), 119 413 413 414 505 OR Account (Periodic) Merchandise Inventory..... Sales Sales Discounts.... . . Sales Retums and Allowances... 415 Purchases Purchase Returns and Allowances.............. 506 Purchase Discounts.. 507 Transportation-in...... 508 Click here for a description of Table: Cumulative Comprehension Problem Account (Periodic) Because the accounting system does not use reversing entries, all revenue and expense accounts have zero balances as of January 1, 2018 Required 1. Prepare journal entries to record each of the following transactions for Echo Systems, assuming either a perpetual system or a periodic system. 2018 Jan. 4 5 7 4 11 13 15 16 17 20 22 24 Paid Carly Smith for the theme of $200 perde including one day in addition to the four unpaid days from the prior year Mary Graham invested an additional 48,000 cash in the business. Purchased $11.200 of merchandise from Shephard Corp.with terms of 1/10. 30. FOB shipping point Received $3.000 from FonekCo s final payment on es nocourt. Completed frday project for Alame Engineering Co. and billed the $4.000, which is the total price of $12.000 less the advance payment of $3.000 Sold merchandise with a real value of $8.400 and a cost of $6.720 to Elite Corporation with terms of 1/10 30, FOB shipping point Paid $1.400 for freight charpes on the merchandise purchased on January 7. Received $6.000 cash from Grandview Co. for computer services. Pald Shephard Corp. for the purchase on January 7. El Corporation returned 1800 of defective merchandise from a purchase on January 13. The returned merchandise, which has a cost of $640, was scrapped. Received the balance due from Elite Corporation Returned defective merchandise to Shepherd Corp. and accepted credit against future purchases. Its cost, net of the discount, was $72. Purchased $16.000 of merchandise from Shephard Comp with terms of 1/10. 30. FOB destination Sold merchandise with a cost of $9.280 for $11.600 on credit to Hacienda. Inc Received a $70 credit mome from Shephard Corp. concerning the merchandise tumed on January 24, Paid Carly Smith for 10 days' work at $200 per day Paid $6.750 to the Lakeshore Mall for another three months' rent in advance. Paid Shephard Corp. for the balance du Paid $1.600 to the local newspaper for advertising Received the balance due from Alame Engineering Co. for revenue billed on January 11. Mary Graham withdrew 69,600 cash for personal use. Sold merchandise with a cow of 85.120 for $6.400 on credit to Grandview Co.: terms 1/10./30. Paid Carly Smith foreight days' work at $200 per day Reimbursed Mary Graham's business automate expenses for 600 kilometres a $1.00 per kilometre Purchased $4,800 of computer supplies from Abort Office Products on credit Received the balance one from Grand Co. for merchandise sold on February 23, Repored the company's computer paying cash of $1.720. Received 18.520 cash from Images, Inc. for computing services. Paid the full amount due to Abbott Office Products, including amounts created on December 17 and March 8 Bled Capital Leasing for $11.800 of computing services. Sold merchandise with a cost of 52.004 for $3.600 on credit to Buckman Services Sold merchandise with a cost of 52.200 for $4.440 on credit to Decker Company Reimbursed Mary Graham's business automobile expenses for 400 kilometres at $1.00 per kilometre 26 26 24 31 1 3 5 11 15 23 26 27 3 Feb. Mar. 11 16 19 24 25 30 31 Click here for a description of List: Cumulative Comprehension Problem.ournal entries Page 389 2. Post the journal entries to the accounts in the company's general ledger. (Use asset, liability, and equity accounts that start with balances as of December 31, 2017.) 3. Prepare a partial work sheet consisting of the first six columns showing the unadjusted trial balance, the March 31 adjustments described in (a) through (9) below, and the adjusted trial balance. Do not prepare closing entries and do not journalize the adjusting entries or post them to the ledger a. The March 31 computer supplies on hand is $4,230. b. Three more months have passed since the company purchased the annual Insurance policy at the cost of $4,320. c. Carly Smith has not been paid for seven days of work. d. Three months have passed since any prepaid rent cost has been transferred to expense. The monthly rent is $2.250. o.Depreciation on the computer for January through March is $2,250, 1. Depreciation on the office equipment for January through March is $1,500