JBCRB Company is a sporting goods retailer with a December 31 year-end. In the files section on Canvas there are files for the project ledger, project journal, the trial balance on December 23 along with templates for other trial balances and financial statements. Below you are given the transactions for the last week of 2023 and the information for any required adjusting entries for 2023. You are to do the following:

Journalize and post the remaining 2023 transactions Create a trial balance on December 31, 2023

Journalize and post the required adjusting entries Prepare an adjusted trial balance on December 31, 2023 Prepare a multi-step income statement for 2023 Prepare a statement of retained earnings for 2023 Prepare a classified balance sheet for December 31, 2023 Journalize and post the necessary closing entries on December 31, 2023 Prepare a post-closing trial balance

Remaining December transactions: Dec. 24 Paid employees for the previous two weeks work, $5,000 Dec 26 Paid Jolly Mon Company for inventory purchased on December 15, the inventory had a list price of $10,000 and the terms were 2/15, n/30 Dec 28 Sold merchandise to Coconut Telegraph Company for $6,000 cash. The merchandise cost $4,200. Dec 29 Purchased $800 of office supplies for cash Dec 29 Received payment from customer for sale of merchandise on December 10. The sales price was $2,500 and the terms were 2/10, n/30. Dec 30 Sold merchandise to Slack Tide Company for $9,000 on account. The terms are 2/15, n/45. The merchandise cost $6,200.

Dec 30 Wrote off Door Number Three Company's account. The balance in the account was $1,570. Dec 31 Purchased $6,000 of merchandise inventory on account from Jolly Mon Company. The terms are 3/10, n/30

Information for year-end adjusting entries: On December 31, there are $1,400 of office supplies on hand JBCRB borrowed the $150,000 on February 1, 2023. JBCRB must make annual interest payments each February 1 and pay the full note on February 1, 2025. The interest rate on the note is 6%. Employees have earned $2,700 in wages for work done since the last payday (December 24) The prepaid rent was paid on July 1, 2023, and covers a one-year period starting on July 1, 2023. JBCRB paid a one-year insurance policy on August 1, 2023. The Building has a twenty-year life and a $40,000 residual value. The Equipment has a ten-year useful life and no residual value. December utilities are $450 and will be paid in January JBCRB estimates its bad debts at 5% of its accounts receivable balance. Check Figures: December 31 Trial Balance Debits and Credits = $1,363,520 December 31 Adjusted Trial Balance Debits and Credits = $1,417,100 Net Income = $98,570 Total Assets = $523,720 Post-Closing Trial Balance Debits and Credits = $800,900