I need help with the accounting Cycle. I am stuck and need help understanding this better. The Questions are embedded in the second page per the information given. Please help! Kindly, thank you.

F Soto Distribution Company Unadjusted Trial Balance Total Check Figure 6,912,629 May 1 Paid rent for May 3 Purchased merchandise on account from Martin Co, Terms 2/10, n/30 FOB shipping point Paid cash for freight on purchase of May 3rd. 4 6 Sold merchandise on account to Korman Co. terms 2/10, n/30 FOB shipping point 7 Received cash from Halstad Co. for payment on their account, No discount 10 Sold merchandise for cash customer 13 Paid for merchandise purchased on May 3, less the discount 15 Paid cash for Last half of advertising for May 16 Received cash from Korman's May 6th sale remaining balance 19 Purchased Merchandise for cash c 19 Made payment of previous merchandise purchase on account, no discount t to Buttons Co. for 20 Paid Korman Co. a cash refund for May 6th Invoice. $ 14,700 Enter the remaining transaction on page 21 of the journal May 20 Sold Merchandise on account to Crescent Co. Terms 1/10, n/30 FOB Shipping Point 21 For Crescent Co. convenience, paid shipping charge on May 20th sale 21 Received cash from Gee Co., no discount 21 Purchased merchandise from Osterman Co. terms 1/10, n/30 FOB Destination 24 Returned damanged merchandise to Osterman Co. from May 21st purchase 26 Refunded cash to customer for cash sale made previously solacion 28 Paid sales salaries 28 Pald office salaries 29 Purchased store supplies, check# 278845 30 Sold merchandise on account to Turner Co. terms 2/10, n/30 FOB shipping point 30 Recived cash from Crescent Co. for May 20th sale plus freight paid. 31 Pald for purchase on May 21 less return and any discount. Merchandise was invoiced at 5,600 40,100 700 76,200 24,800 60,100 skyene $2.300 12,200 20,800 37,220 15,000 122,400 2,600 47,700 98,000 5,600 8,300 62,300 32,300 2,700 87,650 With a With a With a With a With a With a 46,000 Cost of Merchandise 36,000 Cost of Merchandise 9,000 Cost of Merchandise 78,000 Cost of Merchandise 5,300 Cost of Merchandise 52,000 Cost of Merchandise FSoto Distribution Company Unadjusted Trial Balance Total Check Figure 6,912,629 May 1 Paid rent for May 3 Purchased merchandise on account from Martin Ce Terms 2/10, n/30 FOB shipping point 5,600 40,100 4 Paid cash for freight on purchase of May 3rd. 5 5 Sold merchandise on account to Korman Co. terms 2/10, n/30 FOB shipping point With a 46,000 Cost of Merchandise 7 Received cash from Halstad Co. for payment on their account, No discount 10 Sold merchandise for cash customer 700 76,200 24,800 60,100 12,200 With 36,003 Cost of Merchandise 13 Paid for merchandise purchased on May 3, less the discount 15 Pald cash for Last half of advertising for May 16 Received cash from Korman's May 6th sale remaining balance 19 Purchased Merchandise for cash 19 Made payment to Buttons Co. for previous merchandise purchase on account, no discount 20 Paid Korman Co. e cash refund for May 6th Invoice 20,800 37,220 15,000 $14.700 9,000 Cost of Merchandise Enter the remaining transaction on pope 21 of the journal With a With a May 20 Sold Merchandise on account to Crescent Co. Terms 1/10, n/30 FOB Shipping Point 78,000 Cost of Merchandise 21 For Crescent Co. convenience, paid shipping charge on May 20th sale 122,400 2.600 21 Received cash from Gee Co., no discount 21 Purchased merchandise from Osterman Co. terms 1/10,n/30 FOB Destination 47,700 98,000 24 Returned damanged merchandise to Osterman Co. from May 21st purchase 5,600 26 Refunded cach to customer for cash sale made previously With a 5,300 Cost of Merchandise 28 Paid sales salaries 8,300 62,300 32,300 2,700 28 Paid office salaries 29 Purchased store supplies, check# 278845 30 Sold merchandise on account to Turner Co. terms 2/10, n/30 FOB shipping point 87,650 With a 52,000 Cost of Merchandise 30 Recived cash from Crescent Co. for May 20th sale plus freight paid. 31 Paid for purchase on May 21 less return and any discount. Instructions: 1 a) Enter the balances of each of the accounts in the appropriate balance column of each accounts respective general ledger account. Write Balance in the item section, and place a check markin the Posting Reference column. b) Journalize the transactions for May starting on page 20 in the journal 2 Post the journal entries to the proper accounts and columns in the general ledger. This problem does not require to maintain subsidiary ledgers for accounts receivable or accounts payable. 3 Prepare an unadjusted trial balance 4 At the end of May, the following adjustment data was assembled. Analyze and use the data to complete (5) and (6) a. Merchandise inventory on hand May 31 635,000 13,000 b. Insurance expired during the year 4,500 c. Store supplies on hand May 31 d. Depreciation for the current year 15,600 e. Accrued salaries on May 31 Sales salaries 7,800 7,300 Office salaries f. Customer Returns and Allowances Sales 67,000 38,955 Cost of Merchandise Sold 5 (Optional) Complete a 10-column end-of-year Work Sheet 6 Journalize and post the adjusting entries. Record the adjusting entries starting on page 22 in the journal 7 Prepair an adjusted trial Balance. & Prepare an income statement, a statement of owner's equity, and balance sheet. 9. Prepare and post the closing entries. Enter the closing entries on page 23 of the journal. In the general ledger indicate closed accounts with a dash (-) In each Balance column of the account. 10 Prepare a post closing trial balance. Merchandise was invoiced at F Soto Distribution Company Chart of Accounts and Balances For the Month ending April 30, 2022 110 Cash 112 Accounts Receivable 115 Merchandise Inventory 116 Estimated Returns Inventory. 117 Prepaid Insurance 118 Store Supplies 123 Store Equipment 124 Accumulated Depreciation -Store Equipment 210 Accounts Payable 211 Customer Refunds Payable 212 Salaries Payable 310 (Student), Capital 311 (Student), Drawing 410 Sales 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense 523 Store Supplies Expense 529 Miscellaneous Selling Expense 530 Office Salaries Expense 531 Rent Expense 532 Insurance Expense 539 Miscellaneous Administrative Expense 3 Prepare an 4 At the end. 93,000 260,300 695,000 31,200 18,700 12,700 633,900 63,100 107,500 55,600 763,000 150,300 5,641,800 3,142,000 739,900 312,800 14,000 425,300 93,200 8,700 F Soto Distribution Company Unadjusted Trial Balance Total Check Figure 6,912,629 May 1 Paid rent for May 3 Purchased merchandise on account from Martin Co, Terms 2/10, n/30 FOB shipping point Paid cash for freight on purchase of May 3rd. 4 6 Sold merchandise on account to Korman Co. terms 2/10, n/30 FOB shipping point 7 Received cash from Halstad Co. for payment on their account, No discount 10 Sold merchandise for cash customer 13 Paid for merchandise purchased on May 3, less the discount 15 Paid cash for Last half of advertising for May 16 Received cash from Korman's May 6th sale remaining balance 19 Purchased Merchandise for cash c 19 Made payment of previous merchandise purchase on account, no discount t to Buttons Co. for 20 Paid Korman Co. a cash refund for May 6th Invoice. $ 14,700 Enter the remaining transaction on page 21 of the journal May 20 Sold Merchandise on account to Crescent Co. Terms 1/10, n/30 FOB Shipping Point 21 For Crescent Co. convenience, paid shipping charge on May 20th sale 21 Received cash from Gee Co., no discount 21 Purchased merchandise from Osterman Co. terms 1/10, n/30 FOB Destination 24 Returned damanged merchandise to Osterman Co. from May 21st purchase 26 Refunded cash to customer for cash sale made previously solacion 28 Paid sales salaries 28 Pald office salaries 29 Purchased store supplies, check# 278845 30 Sold merchandise on account to Turner Co. terms 2/10, n/30 FOB shipping point 30 Recived cash from Crescent Co. for May 20th sale plus freight paid. 31 Pald for purchase on May 21 less return and any discount. Merchandise was invoiced at 5,600 40,100 700 76,200 24,800 60,100 skyene $2.300 12,200 20,800 37,220 15,000 122,400 2,600 47,700 98,000 5,600 8,300 62,300 32,300 2,700 87,650 With a With a With a With a With a With a 46,000 Cost of Merchandise 36,000 Cost of Merchandise 9,000 Cost of Merchandise 78,000 Cost of Merchandise 5,300 Cost of Merchandise 52,000 Cost of Merchandise FSoto Distribution Company Unadjusted Trial Balance Total Check Figure 6,912,629 May 1 Paid rent for May 3 Purchased merchandise on account from Martin Ce Terms 2/10, n/30 FOB shipping point 5,600 40,100 4 Paid cash for freight on purchase of May 3rd. 5 5 Sold merchandise on account to Korman Co. terms 2/10, n/30 FOB shipping point With a 46,000 Cost of Merchandise 7 Received cash from Halstad Co. for payment on their account, No discount 10 Sold merchandise for cash customer 700 76,200 24,800 60,100 12,200 With 36,003 Cost of Merchandise 13 Paid for merchandise purchased on May 3, less the discount 15 Pald cash for Last half of advertising for May 16 Received cash from Korman's May 6th sale remaining balance 19 Purchased Merchandise for cash 19 Made payment to Buttons Co. for previous merchandise purchase on account, no discount 20 Paid Korman Co. e cash refund for May 6th Invoice 20,800 37,220 15,000 $14.700 9,000 Cost of Merchandise Enter the remaining transaction on pope 21 of the journal With a With a May 20 Sold Merchandise on account to Crescent Co. Terms 1/10, n/30 FOB Shipping Point 78,000 Cost of Merchandise 21 For Crescent Co. convenience, paid shipping charge on May 20th sale 122,400 2.600 21 Received cash from Gee Co., no discount 21 Purchased merchandise from Osterman Co. terms 1/10,n/30 FOB Destination 47,700 98,000 24 Returned damanged merchandise to Osterman Co. from May 21st purchase 5,600 26 Refunded cach to customer for cash sale made previously With a 5,300 Cost of Merchandise 28 Paid sales salaries 8,300 62,300 32,300 2,700 28 Paid office salaries 29 Purchased store supplies, check# 278845 30 Sold merchandise on account to Turner Co. terms 2/10, n/30 FOB shipping point 87,650 With a 52,000 Cost of Merchandise 30 Recived cash from Crescent Co. for May 20th sale plus freight paid. 31 Paid for purchase on May 21 less return and any discount. Instructions: 1 a) Enter the balances of each of the accounts in the appropriate balance column of each accounts respective general ledger account. Write Balance in the item section, and place a check markin the Posting Reference column. b) Journalize the transactions for May starting on page 20 in the journal 2 Post the journal entries to the proper accounts and columns in the general ledger. This problem does not require to maintain subsidiary ledgers for accounts receivable or accounts payable. 3 Prepare an unadjusted trial balance 4 At the end of May, the following adjustment data was assembled. Analyze and use the data to complete (5) and (6) a. Merchandise inventory on hand May 31 635,000 13,000 b. Insurance expired during the year 4,500 c. Store supplies on hand May 31 d. Depreciation for the current year 15,600 e. Accrued salaries on May 31 Sales salaries 7,800 7,300 Office salaries f. Customer Returns and Allowances Sales 67,000 38,955 Cost of Merchandise Sold 5 (Optional) Complete a 10-column end-of-year Work Sheet 6 Journalize and post the adjusting entries. Record the adjusting entries starting on page 22 in the journal 7 Prepair an adjusted trial Balance. & Prepare an income statement, a statement of owner's equity, and balance sheet. 9. Prepare and post the closing entries. Enter the closing entries on page 23 of the journal. In the general ledger indicate closed accounts with a dash (-) In each Balance column of the account. 10 Prepare a post closing trial balance. Merchandise was invoiced at F Soto Distribution Company Chart of Accounts and Balances For the Month ending April 30, 2022 110 Cash 112 Accounts Receivable 115 Merchandise Inventory 116 Estimated Returns Inventory. 117 Prepaid Insurance 118 Store Supplies 123 Store Equipment 124 Accumulated Depreciation -Store Equipment 210 Accounts Payable 211 Customer Refunds Payable 212 Salaries Payable 310 (Student), Capital 311 (Student), Drawing 410 Sales 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense 523 Store Supplies Expense 529 Miscellaneous Selling Expense 530 Office Salaries Expense 531 Rent Expense 532 Insurance Expense 539 Miscellaneous Administrative Expense 3 Prepare an 4 At the end. 93,000 260,300 695,000 31,200 18,700 12,700 633,900 63,100 107,500 55,600 763,000 150,300 5,641,800 3,142,000 739,900 312,800 14,000 425,300 93,200 8,700