Instructions:

Prepare the journal entries for transactions A$-$T below and record them on the "Journal Entries" tab.

Once you have created the journal entries, post them to the $"$T$-$Accounts" tab.

Prepare journal entries for adjusting journal entries $1-6.$

Post the adjusting entries to the correct T$-$Accounts in the $"$T$-$Accounts" tab.

Transaction No$.$ Transaction

Cost or Goods sold

M

December $1$: Pane puchases a piece of machinery with cash that will assist in making $"$T$-$Panes"

Cost of Machinery

The payroll information for the year is shown below. All salaries and wages were previously paid for in cash, however this activity

Number of Employees

Days worked in the current year

$250$

has not been recorded on Pane's books.

Employee payment $($daily$)$

Days worked in the current year

On December $31,$ Pane was notified that their one of their customers filed bankruptcy and would not be able to pay off their $$3,000$ account receivable.

Create Journal Entries for problems M$-$T