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I need help with Part C. All of this should be correct except it says its still incomplete. Required information Problem 4-26A Comprehensive cycle problem:

I need help with Part C. All of this should be correct except it says its still incomplete. image text in transcribed
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Required information Problem 4-26A Comprehensive cycle problem: Perpetual system LO 4-2,4-3,4-4,4-5, 4-6, 4-7 The following information applies to the questions displayed below.) At the beginning of Year 2, the Redd Company had the following balances in its accounts: of 5 Cash Inventory Land Common stock Retained earnings $ 6,900 15,000 7,000 15,000 13,900 look During Year 2, the company experienced the following events: cences 1 Purchased tventory that cost $5,200 on account from Ross Company under terms 1/10, 1/30. The merchandise was delivered FOB shipping point. Freight costs of $190 were paid in cash 2. Returned $400 of the inventory it had purchased from Ross Company because the inventory was damaged in transit. The seller agreed to pay the return freight cost. 3. Pald the amount due on its account payable to Ross Company within the cash discount period. 4. Sold inventory that had cost $6,800 for $12,100 on account, under terms 2/10,n/45 5. Received merchandise returned from a customer. The merchandise originally cost $900 and was sold to the customer for $1,680 cash. The customer was paid $1,680 cash for the returned merchandise. 6. Delivered goods FOB destination in Event 4. Freight costs of $140 were paid in cash 7 Collected the amount due on the account receivable within the discount period. 8. Sold the land for $8,500. 9. Recognized accrued interest income of $600. 10. Took a physical count indicating that $13,400 of inventory was on hand at the end of the accounting period. (Hint Determine the current balance in the inventory account before calculating the amount of the inventory write down) Problem 4-26A Part c c. Post the beginning balances and the events to the T-accounts. Note that these ledger accounts will also be used when posting the closing entry that is created in Parte. 3 of 5 Beg Bal 1b 18 Cash 6.900 0 11858 1901b 8.500 4,75213b 1.680 14018 Merchandise Inventory Beg Bal 15,000 ol 10 5,200 4002 16 190 483 50. 900 6B0040 ok End. Bal 20,490 End. Bal Bal 14,042 64210 . 13.400 ence Accounts Recevable Beg Bal 0 12100 242 7a 11.858 tb Interest Receivable Beg Balo 0 19 600 End, Bal End. Bal 600 Beg Bar Land 7000 0 7,000 18 ACCS Payable Beg, Bar 0 0 2 400 5.2001a 3a 3D 4,752 End. Bal End. Bal Beg Bai Common Stock 0 15.000 Retained Earnings Beg Bal 1013.900 End, Bal 15 000 End, Bal 13.900 Beg Bal Sa Sales Revenue go 1.680 12.1004a 242 Cost of Goods Sold Beg Bal 40 6.800 90015 10. Bal 10,178 Bal 6.542 10,178 6,5421 Transportation-out Beg Bal ON 140 Beg, Bal Interest Revenue O 0 80019 Bal 140 Bal 600 140 Gain on Sale of Land Beg Bal ol 1.50018

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