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I don't know how to solve this qustion Please help me for solve this qustion NOTE:For simplicity, all operating expenses have been summarized in the

I don't know how to solve this qustion

Please help me for solve this qustion

NOTE:For simplicity, all operating expenses have been summarized in the account Operating Expenses.

Additional data at July 31, 2020:

  1. A physical count of items showed $3,000 of supplies on hand. (Hint: Use the account Operating Expenses in the adjusting journal entry.)
  2. An inventory count showed inventory on hand at July 31, 2020, of $140,000.
  3. The equipment has an estimated useful life of eight years and is expected to have no scrap or residual value at the end of its life. (Hint: Use the account Operating Expenses in the adjusting journal entry.)
  4. Unearned sales revenue of $5,600 was earned by July 31, 2020.
Required
  1. Record all adjustments and closing entries that would be required on July 31, 2020.
  2. Need to do the multi-step income statement and statement of owner's equity for the year ended July 31, 2020, and the classified balance sheet in report format as at July 31, 2020.

Accounts Payable........................................$21,600

Accounts Receivable.................................................23,200

Accumulated AmortizationEquipment..............................64,600 Cash...................................................................................8,400

Cost of Goods Sold...........................................................687,000

E. Bueno, Capital.................................................................402,000

E. Bueno, Withdrawals..............................................................92,000

Equipment..............................180,000

Interest Earned..........................................................................4,000

Inventory..............................................................................143,000

Operating Expenses..............................................................355,000

Sales Discounts..........................................................................10,300

Sales Returns and Allowances................................................32,900

Sales Revenue......................................................................1,045,200

Supplies......................................................................................14,600

Unearned Sales Revenue..........................................................9,000

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