I am not positive I am doing this exactly right, would someone mind reviewing this for me? Assets doesent equal liabilities + equity in my ledgers, so I believe there is a mistake somewhere, but I cant find it. Any help would be appreciated, Thanks!

PROJECT INFORMATION Chelsea Harper and Clint Casey create a partnership. Pedal Pushers LLP. It is a retail store that sells bicycles for long-distance and mountain biking. Chelsea will work the cash register and assist customers, while Clint will manage the inventory, purchasing, etc. They have contracted you on a part-time basis to assist with bookkeeping and reporting. Inventory: the business will use a perpetual system and LIFO method. Additionally, purchases and sales on account are accounted for Gross Method. Plant Assets: the business will depreciate the office equipment assets straight-line method for 10 years. PART 1: Record the business activity as journal entries, post to Ledgers, prepare the unadjusted trial balance, prepare any adjusting entries for the month, and create the adjusted trial balance. 11/01/2020: Chelsea contributes $18.000 cash and Clint contributes $6,000 in cash and industrial shelving and other equipment worth $12.000 (fair value). The shelving and equipment have a useful life of 10 years and no residual value. 1,000 shares of $2 par Common Stock are issued to the Partners for this transaction. 11/01/2020: Pedal Pushers signs a lease with Rightway Realty for retail space and pays $2,700 for the first 3 month's rent. 11/01/2020: Pedal Pushers purchases a 6 month insurance policy to insure the business, paying $1,500. 11/02/2020: Pedal Pushers buys a Point-of-Sale (POS) system for the cashier station, $4,500, on account with terms Net 45 FOB Shipping Point. It has an estimated 6 year life and no residual value. 11/04/2020: The POS system arrives and the trucking company presents a freight invoice of $92, which Pedal Pushers pays. 11/04/2020: Pedal Pushers borrows $15.000 from their bank. The amount must be paid back in 90 days with 5% interest. 11/04/2020: Pedal Pushers buys office supplies for $590. 11/04/2020: Pedal Pushers purchases 100 $85 Pro-Cycle bikes (regular size) and 60 $95 Pro- Cycle bikes (XL size) on account from Discount Distribution LLC, terms 2%/15, Net 30, FOB Destination. Pedal Pushers is selling the regular size bike for $165 and the XL size bike for $185. The inventory should be delivered 11/9/2020. 11/05/2020: Pedal Pushers purchases 55 regular size $12 bike helmets and 25 XL size $15 bike helmets from Outfitters Wholesale Corp., terms 1/10. Net 30. FOB Destination. The helmets should arrive 11/9/2020. The company will charge customers $24 for the regular size and $30 for the larger size. 11/09/2020: Both purchases from the 4th and the 5th arrive at the shop. 11/12/2020: Customer buys a regular size bike, paying cash. 11/14/2020: Customer buys 2 XL bikes, paying cash. 11/21/2020: Pedal Pushers pays for the purchase made on the 4th 11/22/2020: Customer buys a regular size bike and a regular size helmet, paying cash. 11/30/2020: A count of office supplies shows that $320 are remaining. Record the business activity as journal entries, post to Ledgers, prepare the unadjusted trial balance, prepare any adjusting entries for the month, and create the adjusted trial balance. 12/01/2020: Sell on account to Walker Fitness Gym, terms 1/15, n/30, the following: 36 Regular Bikes, 36 Regular Helmets, 14 XL Bikes, 14 XL Helmets. 12/02/2020: Pay for the helmet purchase that was made November 5th 12/03/2020: Purchase on account, terms 2/15. n/30. FOB Destination from Discount Sports Distribution the following items, and received the same day: 30 Regular Bikes for $92/each 16 XL Bikes for $101/each 80 Regular Helmets for $13/each 40 XL Helmets for $14/each . . 12/04/2020: Sold to cash customers 6 XL Bikes, 5 XL Helmets. 3 Regular Bikes, and 4 Regular Helmets. 12/5/2020: Sold to cash customers 22 Regular Bikes, 18 Regular Helmets, and 5 XL Bikes. 12/6/2020: Paid the bill for the purchase of the Point-of-Sale system. 12/8/2020: Received a utilities bill for the bundled phone/internet for the shop. Paid it the same day, $215. 12/10/2020: Sold to cash customers 19 Regular Bikes, 2 Regular Helmets. 10 XL Bikes, 6 XL Helmets. 12/11/2020: Sold on account to Ripley's Raceway Park, terms 1/15. n/30, 20 each of the 4 inventory items. 12/12/2020: Received payment from Walker's Fitness Gym for the entire purchase they made with us on December 1st 12/15/2020: Clint and Chelsea decide to take a $5,000 dividend for each of them. They will close the shop for a few weeks to enjoy the year-end holidays and resume business the following year. Adjusting entries: you should make adjusting entries for any expense items needed. Also, a count of office supplies shows only $65 remaining. JOURNAL CREDIT DATE 11/01/2020 ACCOUNT Cash Equipment Common Stock Paid in Capital in Excess of Par DEBIT $24,000 $12,000 $2,000 $34,000 11/01/2020 Prepaid Rent $2,700 Cash $2,700 11/01/2020 $1,500 Prepaid Insurance Cash $1,500 11/02/2020 $4,500 Equipment (Point-of-sale system) Accounts Payable $4,500 11/04/2020 $92 Freight Expense Cash $92 11/04/2020 $15,000 $15,000 Cash Notes Payable *Note: 5% Interest in 90 Days* Office Supplies Cash 11/04/2020 $590 $590 11/09/2020 $14,200 Inventory (Purchased on 11/04/20) Accounts Payable $14,200 11/09/2020 $1035 Inventory (Purchased on 11/05/20) Accounts Payable $1035 11/12/2020 $165 $165 Cash Sales Revenue COGS Inventory $85 $85 11/14/2020 $370 $370 Cash Sales Revenue COGS Inventory $190 $190 11/21/2020 $14,200 Accounts Payable Cash $14,200 11/22/2020 $189 Cash Sales Revenue $189 COGS $97 Inventory $97 $270 11/30/2020 Supplies Expense Office Supplies $270 12/01/2020 $9,814 $9,814 Accounts Receivable Sales Revenue COGS Inventory $5,032 $5,032 12/02/2020 $1035 Accounts Payable Cash $1035 12/03/2020 $5.976 Inventory Accounts Payable $5,976 12/04/2020 $1,851 $1,851 Cash Sales Revenue COGS Inventory $1,004 $1,004 12/05/2020 Cash $4,212 $4,212 Sales Revenue COGS Inventory $2,328 $2,328 12/06/2020 $4,500 Accounts Payable Cash POS System Payment $4,500 12/08/2020 $215 Utilities Expense Cash $215 12/10/2020 $5,213 $5,213 Cash Sales Revenue COGS Inventory $2.770 $2.770 12/11/2020 $8,080 $8,080 Accounts Receivable Sales Revenue COGS Inventory $4,140 $4.140 12/12/220 Cash Sales Discount Accounts Receivable $9,715.86 $98.14 $9,814 12/15/2020 $10,000 Dividends Dividends Payable $10,000 $255 12/15/2020 Supplies Expense Office Supplies $255 LIFO INVENTORY COGS DATE 11/04/2020 PURCHASES 100 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) END INVENTORY 100 Pro Cycle Bike Regular @ $85 (8.500) 60 Pro-Cycle Bike (XL Size) @ $95 ($5.700) 60 Pro-Cycle Bike (XL Size) @ $95 (Sell Price of $185) 11/05/2020 Purchase Cost: $14,200 55 Bike Helmets (Regular Size) @ $12 (Sell Price of $24) 100 Pro Cycle Bike (Regular) @ $85 ($8,500) 60 Pro-Cycle Bike (XL Size) @ $95 ($5.700) 55 Bike Helmet (Regular Size) @ $12 (5660) 25 Bike Helmets (XL Size) @ $15 ($375) 25 Bike Helmets (XL Size) @ $15 (Sell Price of $30) 11/12/2020 Purchase Cost: $103 Sold 1 Pro-Cycle Bike (Regular) @ $165 1 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) 11/14/2020 Total Sale: $165 Sold 2 Pro-Cycle Bike (XL Size) @ $185 Total COGS: $85 2 Pro-Cycle Bike (XL Size) @ $95 (Sell Price of $185) 99 Pro Cycle Bike (Regular) @ $85 ($8,415) 60 Pro-Cycle Bike (XL Size) @ $95 ($5.700) 55 Bike Helmet (Regular Size) @ $12 (5660) 25 Bike Helmets (XL Size) @ $15 ($375) 99 Pro Cycle Bike (Regular) @ $85 ($8,415) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 55 Bike Helmet (Regular Size) @ $12 (5660) 25 Bike Helmets (XL Size) @ $15 ($375) 98 Pro Cycle Bike (Regular) @ $85 ($8,330) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 54 Bike Helmet (Regular Size) a $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 11/22/2020 Total Sale: $370 Sold 1 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) Total COGS: $190 1 Pro-Cycle Bike Regular) @ $85 (Sell Price of $165) Sold 1 Bike Helmets (Regular Size) @ $12 (Sell Price of $24) 1 Bike Helmets (Regular Size) @ $12 (Sell Price of $24) Total COGS: $97 12/03/2020 Total Sale: $189 30 Pro-Cycle Bike (Regular) @ $92 (Sell Price of $165) 16 Pro-Cycle Bike (XL Size) @ $101 (Sell Price of $185) 98 Pro Cycle Bike (Regular) @ $85 ($8.330) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 30 Pro Cycle Bike (Regular) @ $92 ($2,760) 16 Pro-Cycle Bike (XL Size) @ $101 ($1,616) 80 Bike Helmet (Regular Size) @ $13 ($1,040) 40 Bike Helmets (XL Size) @ $14 ($560) 80 Bike Helmets (Regular Size) @ $13 (Sell Price of $24) 40 Bike Helmets (XL Size) @ $14 (Sell Price of $30) Purchase Cost: $5,976 12/04/2020 Sold 3 Pro-Cycle Bike (Regular) @ $165 3 Pro-Cycle Bike (Regular) @ $92 (Sell Price of $165) Sold 6 Pro-Cycle Bike (XL Size) @ $185 6 Pro-Cycle Bike (XL Size) @ $101 (Sell Price of $185) 98 Pro Cycle Bike (Regular) @ $85 ($8.330) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 27 Pro Cycle Bike (Regular) @ $92 ($2,484) 10 Pro-Cycle Bike (XL Size) @ $101 ($1,010) 76 Bike Helmet (Regular Size) @ $13 ($988) 35 Bike Helmets (XL Size) @ $14 ($490) Sold 4 Bike Helmets (Regular Size) @ S24 4 Bike Helmets (Regular Size) @ $13 (Sell Price of $24) Sold 5 Bike Helmets (XL Size) a $30 5 Bike Helmets (XL Size) @ S14 (Sell Price of $30) 12/05/2020 Total Sale: $1,851 Sold 22 Pro-Cycle Bike (Regular) @ $165 Total COGS: $1,004 22 Pro-Cycle Bike (Regular) @ $92 (Sell Price of $165) Sold 18 Bike Helmets (Regular Size) 18 Bike Helmets (Regular Size) @ $13 (Sell Price of $24) @ $24 98 Pro Cycle Bike (Regular) @ $85 ($8.330) 58 Pro-Cycle Bike XL Size) a $95 ($5,510) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 5 Pro Cycle Bike (Regular) @ $92 ($460) 10 Pro-Cycle Bike (XL Size) @ $101 ($1,010) 58 Bike Helmet (Regular Size) @ $13 (5754) 30 Bike Helmets (XL Size) @ $14 ($420) Sold 5 Bike Helmets (XL Size) @ $30 5 Bike Helmets (XL Size) @ $14 (Sell Price of $30) 12/10/2020 Total Sale: $4,212 Sold 19 Pro-Cycle Bike (Regular) @ $165 Total COGS: $2,328 5 Pro-Cycle Bike (Regular) @ $92 (Sell Price of $165) 84 Pro Cycle Bike (Regular) @ $85 ($7.140) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 56 Bike Helmet (Regular Size) @ $13 (5728) 24 Bike Helmets (XL Size) @ $14 ($336) Sold 10 Pro-Cycle Bike (XL Size) @ S185 14 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) Sold 2 Bike Helmets (Regular Size) @ S24 2 Bike Helmets (Regular Size) @ $13 (Sell Price of $24) Sold 6 Bike Helmets (XL Size) @ $30 10 Pro-Cycle Bike XL Size) @ $101 (Sell Price of $185) Total Sale: $5,213 6 Bike Helmets (XL Size) @ S14 (Sell Price of $30) 12/11/2020 Sold 20 Pro-Cycle Bike (Regular) @ $165 Total COGS: $2.770 20 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) Sold 20 Pro-Cycle Bike (XL Size) 20 Bike Helmets (Regular Size) @ S13 (Sell Price of $24) 64 Pro Cycle Bike (Regular) @ $85 ($5,440) 38 Pro-Cycle Bike (XL Size) @ $95 ($3,610) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 36 Bike Helmet (Regular Size) @ $13 (9468) 4 Bike Helmets (XL Size) @ $14 ($56) @ $185 Sold 20 Bike Helmets (Regular Size) @ S24 20 Pro-Cycle Bike (XL Size) @ $95 (Sell Price of $185) Sold 20 Bike Helmets (XL Size) a $30 20 Bike Helmets (XL Size) @ $14 (Sell Price of $30) Total Sales: $8,080 Total Purchases: $21,211 Total Sales: $20,575 Total COGs: $4,140 Total COGs: $12,324 Ending Inventory 64 Pro Cycle Bike (Regular) @ $85 ($5,440) 38 Pro-Cycle Bike (XL Size) a $95 ($3,610) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 36 Bike Helmet (Regular Size) @ $13 (5468) 4 Bike Helmets (XL Size) @ $14 ($56) CASH 24.000 PREPAID RENT 2,700 ACCOUNTS RECEIVABLE 9.814 8,080 9.814 2,700 1,500 92 15,000 590 165 370 14,200 189 Total Prepaid Rent 2700 PREPAID INSURANCE 1,500 1035 1.851 4,212 4500 215 5213 9.715.86 Total Cash 35,883.86 Total PI 1,500 ALLOWANCE - BAD DEBT Total AR 8080 OFFICE SUPPLIES 590 270 255 ACCUM. DEPRECIATION Total OS 65 OFFICE EQUIPMENT 12.000 4,500 Total OE 16500 SALARIES PAYABLE NOTES PAYABLE 15.000 ACCOUNTS PAYABLE 4,500 14,200 1035 14,200 1035 5976 4,500 Total AP 5976 UNEARNED REVENUE Total NP 15,000 INTEREST PAYABLE PAYROLL TAX PAYABLE SALES DISCOUNT 98.14 DIVIDENDS PAYABLE 10,000 Total SD 98.14 Total DP 10,000 SERVICE REVENUE COMMON STOCK 2.000 DIVIDENDS 10.000 Total CS 2000 RETAINED EARNINGS Total Dividend 10,000 UTILITY EXPENSE 215 Total RE RENT EXPENSE INSURANCE EXPENSE Total UE 215 SUPPLIES EXPENSE 270 255 Total SE 525 SALARIES EXPENSE DEPRECIATION EXPS. PAYROLL TAX EXPS. INTEREST EXPENSE ADVERTISING EXPENSE BAD DEBT EXPENSE TEAL & TRAVEL EXPENS INCOME SUMMARY PAID IN CAP EXC PAR 34.000 FREIGHT EXPENSE 92 INVENTORY 14,200 1035 85 190 Total PICEP 34,000 COST OF GOODS SOLD 85 190 97 5,032 1004) 2328 2770 4140 Total COGS 15,646 97 5,032 5976 1004 2328 2770 4140 5,565 Total Inventory Total FE 92 SALES REVENUE 165 370 189 9,814 1.851 4212 5213 8.080 Total SR 29,894 PROJECT INFORMATION Chelsea Harper and Clint Casey create a partnership. Pedal Pushers LLP. It is a retail store that sells bicycles for long-distance and mountain biking. Chelsea will work the cash register and assist customers, while Clint will manage the inventory, purchasing, etc. They have contracted you on a part-time basis to assist with bookkeeping and reporting. Inventory: the business will use a perpetual system and LIFO method. Additionally, purchases and sales on account are accounted for Gross Method. Plant Assets: the business will depreciate the office equipment assets straight-line method for 10 years. PART 1: Record the business activity as journal entries, post to Ledgers, prepare the unadjusted trial balance, prepare any adjusting entries for the month, and create the adjusted trial balance. 11/01/2020: Chelsea contributes $18.000 cash and Clint contributes $6,000 in cash and industrial shelving and other equipment worth $12.000 (fair value). The shelving and equipment have a useful life of 10 years and no residual value. 1,000 shares of $2 par Common Stock are issued to the Partners for this transaction. 11/01/2020: Pedal Pushers signs a lease with Rightway Realty for retail space and pays $2,700 for the first 3 month's rent. 11/01/2020: Pedal Pushers purchases a 6 month insurance policy to insure the business, paying $1,500. 11/02/2020: Pedal Pushers buys a Point-of-Sale (POS) system for the cashier station, $4,500, on account with terms Net 45 FOB Shipping Point. It has an estimated 6 year life and no residual value. 11/04/2020: The POS system arrives and the trucking company presents a freight invoice of $92, which Pedal Pushers pays. 11/04/2020: Pedal Pushers borrows $15.000 from their bank. The amount must be paid back in 90 days with 5% interest. 11/04/2020: Pedal Pushers buys office supplies for $590. 11/04/2020: Pedal Pushers purchases 100 $85 Pro-Cycle bikes (regular size) and 60 $95 Pro- Cycle bikes (XL size) on account from Discount Distribution LLC, terms 2%/15, Net 30, FOB Destination. Pedal Pushers is selling the regular size bike for $165 and the XL size bike for $185. The inventory should be delivered 11/9/2020. 11/05/2020: Pedal Pushers purchases 55 regular size $12 bike helmets and 25 XL size $15 bike helmets from Outfitters Wholesale Corp., terms 1/10. Net 30. FOB Destination. The helmets should arrive 11/9/2020. The company will charge customers $24 for the regular size and $30 for the larger size. 11/09/2020: Both purchases from the 4th and the 5th arrive at the shop. 11/12/2020: Customer buys a regular size bike, paying cash. 11/14/2020: Customer buys 2 XL bikes, paying cash. 11/21/2020: Pedal Pushers pays for the purchase made on the 4th 11/22/2020: Customer buys a regular size bike and a regular size helmet, paying cash. 11/30/2020: A count of office supplies shows that $320 are remaining. Record the business activity as journal entries, post to Ledgers, prepare the unadjusted trial balance, prepare any adjusting entries for the month, and create the adjusted trial balance. 12/01/2020: Sell on account to Walker Fitness Gym, terms 1/15, n/30, the following: 36 Regular Bikes, 36 Regular Helmets, 14 XL Bikes, 14 XL Helmets. 12/02/2020: Pay for the helmet purchase that was made November 5th 12/03/2020: Purchase on account, terms 2/15. n/30. FOB Destination from Discount Sports Distribution the following items, and received the same day: 30 Regular Bikes for $92/each 16 XL Bikes for $101/each 80 Regular Helmets for $13/each 40 XL Helmets for $14/each . . 12/04/2020: Sold to cash customers 6 XL Bikes, 5 XL Helmets. 3 Regular Bikes, and 4 Regular Helmets. 12/5/2020: Sold to cash customers 22 Regular Bikes, 18 Regular Helmets, and 5 XL Bikes. 12/6/2020: Paid the bill for the purchase of the Point-of-Sale system. 12/8/2020: Received a utilities bill for the bundled phone/internet for the shop. Paid it the same day, $215. 12/10/2020: Sold to cash customers 19 Regular Bikes, 2 Regular Helmets. 10 XL Bikes, 6 XL Helmets. 12/11/2020: Sold on account to Ripley's Raceway Park, terms 1/15. n/30, 20 each of the 4 inventory items. 12/12/2020: Received payment from Walker's Fitness Gym for the entire purchase they made with us on December 1st 12/15/2020: Clint and Chelsea decide to take a $5,000 dividend for each of them. They will close the shop for a few weeks to enjoy the year-end holidays and resume business the following year. Adjusting entries: you should make adjusting entries for any expense items needed. Also, a count of office supplies shows only $65 remaining. JOURNAL CREDIT DATE 11/01/2020 ACCOUNT Cash Equipment Common Stock Paid in Capital in Excess of Par DEBIT $24,000 $12,000 $2,000 $34,000 11/01/2020 Prepaid Rent $2,700 Cash $2,700 11/01/2020 $1,500 Prepaid Insurance Cash $1,500 11/02/2020 $4,500 Equipment (Point-of-sale system) Accounts Payable $4,500 11/04/2020 $92 Freight Expense Cash $92 11/04/2020 $15,000 $15,000 Cash Notes Payable *Note: 5% Interest in 90 Days* Office Supplies Cash 11/04/2020 $590 $590 11/09/2020 $14,200 Inventory (Purchased on 11/04/20) Accounts Payable $14,200 11/09/2020 $1035 Inventory (Purchased on 11/05/20) Accounts Payable $1035 11/12/2020 $165 $165 Cash Sales Revenue COGS Inventory $85 $85 11/14/2020 $370 $370 Cash Sales Revenue COGS Inventory $190 $190 11/21/2020 $14,200 Accounts Payable Cash $14,200 11/22/2020 $189 Cash Sales Revenue $189 COGS $97 Inventory $97 $270 11/30/2020 Supplies Expense Office Supplies $270 12/01/2020 $9,814 $9,814 Accounts Receivable Sales Revenue COGS Inventory $5,032 $5,032 12/02/2020 $1035 Accounts Payable Cash $1035 12/03/2020 $5.976 Inventory Accounts Payable $5,976 12/04/2020 $1,851 $1,851 Cash Sales Revenue COGS Inventory $1,004 $1,004 12/05/2020 Cash $4,212 $4,212 Sales Revenue COGS Inventory $2,328 $2,328 12/06/2020 $4,500 Accounts Payable Cash POS System Payment $4,500 12/08/2020 $215 Utilities Expense Cash $215 12/10/2020 $5,213 $5,213 Cash Sales Revenue COGS Inventory $2.770 $2.770 12/11/2020 $8,080 $8,080 Accounts Receivable Sales Revenue COGS Inventory $4,140 $4.140 12/12/220 Cash Sales Discount Accounts Receivable $9,715.86 $98.14 $9,814 12/15/2020 $10,000 Dividends Dividends Payable $10,000 $255 12/15/2020 Supplies Expense Office Supplies $255 LIFO INVENTORY COGS DATE 11/04/2020 PURCHASES 100 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) END INVENTORY 100 Pro Cycle Bike Regular @ $85 (8.500) 60 Pro-Cycle Bike (XL Size) @ $95 ($5.700) 60 Pro-Cycle Bike (XL Size) @ $95 (Sell Price of $185) 11/05/2020 Purchase Cost: $14,200 55 Bike Helmets (Regular Size) @ $12 (Sell Price of $24) 100 Pro Cycle Bike (Regular) @ $85 ($8,500) 60 Pro-Cycle Bike (XL Size) @ $95 ($5.700) 55 Bike Helmet (Regular Size) @ $12 (5660) 25 Bike Helmets (XL Size) @ $15 ($375) 25 Bike Helmets (XL Size) @ $15 (Sell Price of $30) 11/12/2020 Purchase Cost: $103 Sold 1 Pro-Cycle Bike (Regular) @ $165 1 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) 11/14/2020 Total Sale: $165 Sold 2 Pro-Cycle Bike (XL Size) @ $185 Total COGS: $85 2 Pro-Cycle Bike (XL Size) @ $95 (Sell Price of $185) 99 Pro Cycle Bike (Regular) @ $85 ($8,415) 60 Pro-Cycle Bike (XL Size) @ $95 ($5.700) 55 Bike Helmet (Regular Size) @ $12 (5660) 25 Bike Helmets (XL Size) @ $15 ($375) 99 Pro Cycle Bike (Regular) @ $85 ($8,415) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 55 Bike Helmet (Regular Size) @ $12 (5660) 25 Bike Helmets (XL Size) @ $15 ($375) 98 Pro Cycle Bike (Regular) @ $85 ($8,330) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 54 Bike Helmet (Regular Size) a $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 11/22/2020 Total Sale: $370 Sold 1 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) Total COGS: $190 1 Pro-Cycle Bike Regular) @ $85 (Sell Price of $165) Sold 1 Bike Helmets (Regular Size) @ $12 (Sell Price of $24) 1 Bike Helmets (Regular Size) @ $12 (Sell Price of $24) Total COGS: $97 12/03/2020 Total Sale: $189 30 Pro-Cycle Bike (Regular) @ $92 (Sell Price of $165) 16 Pro-Cycle Bike (XL Size) @ $101 (Sell Price of $185) 98 Pro Cycle Bike (Regular) @ $85 ($8.330) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 30 Pro Cycle Bike (Regular) @ $92 ($2,760) 16 Pro-Cycle Bike (XL Size) @ $101 ($1,616) 80 Bike Helmet (Regular Size) @ $13 ($1,040) 40 Bike Helmets (XL Size) @ $14 ($560) 80 Bike Helmets (Regular Size) @ $13 (Sell Price of $24) 40 Bike Helmets (XL Size) @ $14 (Sell Price of $30) Purchase Cost: $5,976 12/04/2020 Sold 3 Pro-Cycle Bike (Regular) @ $165 3 Pro-Cycle Bike (Regular) @ $92 (Sell Price of $165) Sold 6 Pro-Cycle Bike (XL Size) @ $185 6 Pro-Cycle Bike (XL Size) @ $101 (Sell Price of $185) 98 Pro Cycle Bike (Regular) @ $85 ($8.330) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 27 Pro Cycle Bike (Regular) @ $92 ($2,484) 10 Pro-Cycle Bike (XL Size) @ $101 ($1,010) 76 Bike Helmet (Regular Size) @ $13 ($988) 35 Bike Helmets (XL Size) @ $14 ($490) Sold 4 Bike Helmets (Regular Size) @ S24 4 Bike Helmets (Regular Size) @ $13 (Sell Price of $24) Sold 5 Bike Helmets (XL Size) a $30 5 Bike Helmets (XL Size) @ S14 (Sell Price of $30) 12/05/2020 Total Sale: $1,851 Sold 22 Pro-Cycle Bike (Regular) @ $165 Total COGS: $1,004 22 Pro-Cycle Bike (Regular) @ $92 (Sell Price of $165) Sold 18 Bike Helmets (Regular Size) 18 Bike Helmets (Regular Size) @ $13 (Sell Price of $24) @ $24 98 Pro Cycle Bike (Regular) @ $85 ($8.330) 58 Pro-Cycle Bike XL Size) a $95 ($5,510) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 5 Pro Cycle Bike (Regular) @ $92 ($460) 10 Pro-Cycle Bike (XL Size) @ $101 ($1,010) 58 Bike Helmet (Regular Size) @ $13 (5754) 30 Bike Helmets (XL Size) @ $14 ($420) Sold 5 Bike Helmets (XL Size) @ $30 5 Bike Helmets (XL Size) @ $14 (Sell Price of $30) 12/10/2020 Total Sale: $4,212 Sold 19 Pro-Cycle Bike (Regular) @ $165 Total COGS: $2,328 5 Pro-Cycle Bike (Regular) @ $92 (Sell Price of $165) 84 Pro Cycle Bike (Regular) @ $85 ($7.140) 58 Pro-Cycle Bike (XL Size) @ $95 ($5,510) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 56 Bike Helmet (Regular Size) @ $13 (5728) 24 Bike Helmets (XL Size) @ $14 ($336) Sold 10 Pro-Cycle Bike (XL Size) @ S185 14 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) Sold 2 Bike Helmets (Regular Size) @ S24 2 Bike Helmets (Regular Size) @ $13 (Sell Price of $24) Sold 6 Bike Helmets (XL Size) @ $30 10 Pro-Cycle Bike XL Size) @ $101 (Sell Price of $185) Total Sale: $5,213 6 Bike Helmets (XL Size) @ S14 (Sell Price of $30) 12/11/2020 Sold 20 Pro-Cycle Bike (Regular) @ $165 Total COGS: $2.770 20 Pro-Cycle Bike (Regular) @ $85 (Sell Price of $165) Sold 20 Pro-Cycle Bike (XL Size) 20 Bike Helmets (Regular Size) @ S13 (Sell Price of $24) 64 Pro Cycle Bike (Regular) @ $85 ($5,440) 38 Pro-Cycle Bike (XL Size) @ $95 ($3,610) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 36 Bike Helmet (Regular Size) @ $13 (9468) 4 Bike Helmets (XL Size) @ $14 ($56) @ $185 Sold 20 Bike Helmets (Regular Size) @ S24 20 Pro-Cycle Bike (XL Size) @ $95 (Sell Price of $185) Sold 20 Bike Helmets (XL Size) a $30 20 Bike Helmets (XL Size) @ $14 (Sell Price of $30) Total Sales: $8,080 Total Purchases: $21,211 Total Sales: $20,575 Total COGs: $4,140 Total COGs: $12,324 Ending Inventory 64 Pro Cycle Bike (Regular) @ $85 ($5,440) 38 Pro-Cycle Bike (XL Size) a $95 ($3,610) 54 Bike Helmet (Regular Size) @ $12 (5648) 25 Bike Helmets (XL Size) @ $15 ($375) 36 Bike Helmet (Regular Size) @ $13 (5468) 4 Bike Helmets (XL Size) @ $14 ($56) CASH 24.000 PREPAID RENT 2,700 ACCOUNTS RECEIVABLE 9.814 8,080 9.814 2,700 1,500 92 15,000 590 165 370 14,200 189 Total Prepaid Rent 2700 PREPAID INSURANCE 1,500 1035 1.851 4,212 4500 215 5213 9.715.86 Total Cash 35,883.86 Total PI 1,500 ALLOWANCE - BAD DEBT Total AR 8080 OFFICE SUPPLIES 590 270 255 ACCUM. DEPRECIATION Total OS 65 OFFICE EQUIPMENT 12.000 4,500 Total OE 16500 SALARIES PAYABLE NOTES PAYABLE 15.000 ACCOUNTS PAYABLE 4,500 14,200 1035 14,200 1035 5976 4,500 Total AP 5976 UNEARNED REVENUE Total NP 15,000 INTEREST PAYABLE PAYROLL TAX PAYABLE SALES DISCOUNT 98.14 DIVIDENDS PAYABLE 10,000 Total SD 98.14 Total DP 10,000 SERVICE REVENUE COMMON STOCK 2.000 DIVIDENDS 10.000 Total CS 2000 RETAINED EARNINGS Total Dividend 10,000 UTILITY EXPENSE 215 Total RE RENT EXPENSE INSURANCE EXPENSE Total UE 215 SUPPLIES EXPENSE 270 255 Total SE 525 SALARIES EXPENSE DEPRECIATION EXPS. PAYROLL TAX EXPS. INTEREST EXPENSE ADVERTISING EXPENSE BAD DEBT EXPENSE TEAL & TRAVEL EXPENS INCOME SUMMARY PAID IN CAP EXC PAR 34.000 FREIGHT EXPENSE 92 INVENTORY 14,200 1035 85 190 Total PICEP 34,000 COST OF GOODS SOLD 85 190 97 5,032 1004) 2328 2770 4140 Total COGS 15,646 97 5,032 5976 1004 2328 2770 4140 5,565 Total Inventory Total FE 92 SALES REVENUE 165 370 189 9,814 1.851 4212 5213 8.080 Total SR 29,894