J J Market accounts for transactions on the cash basis during the year. At year, the CPA has to adjust the books to accrual basis. Prepare the required adjusting entries.

Credit 9,000 4,800 850 Trial Balance 31-Jul-20 Debit Cash 20,250 Account Receivable, 7/31/19 5,300 Inventory, 7/31/19 20,000 Equipment 35,000 Accumulated Depr, 7/31/19 Account Payable, 7/31/19 Payroll Tax Withheld Javelina, Withdrawals 24,000 Javelina, Capital 7/31/19 Sales Cost of Goods Sold 82,700 Salaries 29,500 Payroll Taxes 2,900 Rent 8,400 Miscellaneous Expense 3,900 Insurance 2,400 Utilities 3,500 Totals 237,850 35,400 187,800 237,850 Additional information: 1. 2. 3. 4. 5. Amounts due from customers total $9,000 at 7/31/20. A review of the receivables shows that an allowance of doubtful accounts of $900 should be provided. Accounts Payable at 7/31/20 should be $6,000. (Make adjustment against Inventory) Based on a physical count, inventory is $21,500. (Don't forget about previous entry) On July 1, Javelina paid one year's rent in advance in the amount of $4,200 and recorded the entire amount as Rent Expense. On July 1, Javelina paid $1,200 on insurance for the upcoming fiscal year. (Aug 1-July 31, 2021) Depreciation for the year ended 7/31/2020 was $4,750. Accrued expenses at July 31, 2020 are: Salaries of $510 and Utilities of $600. 6. 7. 8. Prepare the required adjusting entries. Screen