JFB Company Trial Balance December 31, 202A Account Title Debit Credit Cash 151,200 Accounts Receivable 2,500 Allowance for bad Debts 525 Notes receivable 25,005 Merchandise Inventory 12,000 Purchases 30,000 Purchase Returns and Allowances 2,000 Supplies 1,500 Store Furniture 75,000 Store Equipment 200,000 Accumulated Depreciation 3,170 Accounts Payable 200,000 Accrued Salaries Payable 1,512 Notes Payable 32705 Kris Ang. Capital 237,500 Kris Ang, Withdrawal 2,000 Sales 49,450 Sales Returns and Allowances 1,200 Bad debts expense 525 Advertising expense 1,000 Rent Expense 5,000 Salaries expense 1,512 Supplies Expense 1,000 Utilities expense 1,800 Wages expense 2,500 Maintenance expense 4,500 Freight out 750 Freight in 1,500 Depreciation expense 3,170 Miscellaneous expense 3,200 Total 526,862 526,862 Additional Information: a Supplies physical inventory, December 31, 202A is P450. b. Merchandise Inventory end is P20,000. c. Interest is 10% per annum. Notes receivable is dated October 1, 202A. d. Retumed merchandise by the customer amounting to P500 was received on December 31, 202A. Already included in the inventory count but not yet recorded e. Advertising material left on hand is P500. Required: 1. Enter the trial balance on a worksheet and complete the worksheet using the data provided for adjusting entries. 2. Prepare the Income Statement and Balance Sheet. 3. From the worksheet, journalize the adjusting entries. 4. Prepare the closing entries 5. Prepare the post-closing trial balance 6. Prepare the reversing entries JFB Company Trial Balance December 31, 202A Account Title Debit Credit Cash 151,200 Accounts Receivable 2,500 Allowance for bad Debts 525 Notes receivable 25,005 Merchandise Inventory 12,000 Purchases 30,000 Purchase Returns and Allowances 2,000 Supplies 1,500 Store Furniture 75,000 Store Equipment 200,000 Accumulated Depreciation 3,170 Accounts Payable 200,000 Accrued Salaries Payable 1,512 Notes Payable 32705 Kris Ang. Capital 237,500 Kris Ang, Withdrawal 2,000 Sales 49,450 Sales Returns and Allowances 1,200 Bad debts expense 525 Advertising expense 1,000 Rent Expense 5,000 Salaries expense 1,512 Supplies Expense 1,000 Utilities expense 1,800 Wages expense 2,500 Maintenance expense 4,500 Freight out 750 Freight in 1,500 Depreciation expense 3,170 Miscellaneous expense 3,200 Total 526,862 526,862 Additional Information: a Supplies physical inventory, December 31, 202A is P450. b. Merchandise Inventory end is P20,000. c. Interest is 10% per annum. Notes receivable is dated October 1, 202A. d. Retumed merchandise by the customer amounting to P500 was received on December 31, 202A. Already included in the inventory count but not yet recorded e. Advertising material left on hand is P500. Required: 1. Enter the trial balance on a worksheet and complete the worksheet using the data provided for adjusting entries. 2. Prepare the Income Statement and Balance Sheet. 3. From the worksheet, journalize the adjusting entries. 4. Prepare the closing entries 5. Prepare the post-closing trial balance 6. Prepare the reversing entries