John Johnson owns a small shoe store in Searcy. Arkansas called Foot First Shoes and Apparel. He is looking for a new accountant for his business. He has asked you to prepare monthly francial statements for him to access your capabilities. He has provided the following information: - His balance sheet for June 2021 - John uses the specific identification method of inventory. All sales are billed and are recorded on the 15 th and last day of each month. Sales for July were: - 15th-Sales =12,325 Cost of Goods Sold =7,600 - 31st - Sales =7,715 Cost of Goods Sold = 4,250 - John has one employee that works Monday through Friday. He pays him $500 every Friday. The month started on a Monday and ended on a Wednesday. (lignore payroll tax and witholdings) - Depreciation expense for the building is $36,000 per year - Depreciation expense for equipment is $900 per month - A count revealed $900 supplies remained on July 31 - $1,900 of the unearned revenue was earned during the month - The company also had the following transactions throughout the month: July 1 - Paid $1,400 for July rent July 2 - Paid $7,500 on accounts payable due July 6 - Received $3,200 from customers previously billed July 10 - Received $6,200 worth of imventory on account July 1 - Paid $1,400 for July rent July 2 - Paid $7,500 on accounts payable due July 6 - Received $3,200 from customers previously billed July 10 - Received $6,200 worth of inventory on account July 16 - Paid $750 for repairs and maintenance on equipment July 19 - Paid $5,000 on accounts payable due July 20 - Purchased new office equipment for $1,500 cash July 24 - Received $10,900 from customers previously billed John Johnson owns a small shoe store in Searcy. Arkansas called Foot First Shoes and Apparel. He is looking for a new accountant for his business. He has asked you to prepare monthly francial statements for him to access your capabilities. He has provided the following information: - His balance sheet for June 2021 - John uses the specific identification method of inventory. All sales are billed and are recorded on the 15 th and last day of each month. Sales for July were: - 15th-Sales =12,325 Cost of Goods Sold =7,600 - 31st - Sales =7,715 Cost of Goods Sold = 4,250 - John has one employee that works Monday through Friday. He pays him $500 every Friday. The month started on a Monday and ended on a Wednesday. (lignore payroll tax and witholdings) - Depreciation expense for the building is $36,000 per year - Depreciation expense for equipment is $900 per month - A count revealed $900 supplies remained on July 31 - $1,900 of the unearned revenue was earned during the month - The company also had the following transactions throughout the month: July 1 - Paid $1,400 for July rent July 2 - Paid $7,500 on accounts payable due July 6 - Received $3,200 from customers previously billed July 10 - Received $6,200 worth of imventory on account July 1 - Paid $1,400 for July rent July 2 - Paid $7,500 on accounts payable due July 6 - Received $3,200 from customers previously billed July 10 - Received $6,200 worth of inventory on account July 16 - Paid $750 for repairs and maintenance on equipment July 19 - Paid $5,000 on accounts payable due July 20 - Purchased new office equipment for $1,500 cash July 24 - Received $10,900 from customers previously billed