I need help with my journal entries. My unadjusted trial balance should be $6,210,625
Palisade Creek Co. is a merchandising business that uses the perpetual inventory syste The account balances for Palisade Creek Co. as of May 1, 2016 (unless otherwise indicates are as follows 110 Cash 5 83,600 233.900 624,400 112 Accounts Receivable 115 Merchandise inventory 116 117 Prepaid insurance 118 Store Supplies 123 Store Equipment 124 210 1 Salaries Payable 212 Customers Refunds Payable 310 Lynn Tolley, Capital, June 1, 2015 311 Lynn Tolley, Drawing Estimated Returns Inventory 16,800 11,400 569,500 56,700 96,600 Accumulated Depreciation-Store Equipment Accounts Payable 50,000 85,300 35,000 312 income Summary 410 Sales 5,069,000 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense 523 Store Supplies Expense 529 530 531 64,800 281,000 Miscellaneous Selling Expense Office Salaries Expense Rent Expense 12,600 X2100 83,700 7,800 During May, the last month of the fiscal year, the following transactions were completed May 1. Paid rent for May, $5,000 3. Purchased merchandise on account fronm Martin Co., terms 2/10, n/30, FORB shipping point, $36,000. 4. Paid freight on purchase of May 3, $600. 6. Sold merchandise on account to Korman Co, terms 2/10, n/30, FOB shipping point, $68,500. The cost of the merchandise sold was $41,000. 7. Received $22,300 cash from Halstad Co. on account. 10. Sold merchandise for cash, $54,000. The cost of the merchandise sold was $32,000. 13. Paid for merchandise purchased on May 3 15. Paid advertising expense for last half of May, $11,000. 16. Received cash from sale of May 6 19. Purchased merchandise for cash, $18,700. 19. Paid $33,450 to Buttons Co. on account. 20. Paid Korman Co. a cash refund of $13,230 for returned merchandise from sale of May 6. The invoice amount of the returned merchandise was $13,500 and the cost of the returned merchandise was $8,000. Record tbe following transactions on Page 21 of tbe journal: 20. Sold merchandise on account to Crescent Co, terms 1/10, n/30, FOB shipping point, $110,000. The cost of the mercflandise sold was $70,000. 21. For the convenience of Crescent Co. paid freight on sale of May 20, $2,300. 21. Received $42,900 cash from Gee Co. on account (Contin