John Neff owns and operates Waikiki Surf Shop. A year-end trial balance is provided is shown

Neff uses the periodic inventory system. Year-end adjustment data are as follows: (a, b) A physical count shows that merchandise inventory costing $51,800 is on hand as of December 31, 20- (c, d, e) Neff estimates that customers will be granted $2,000 in refunds of this year's sales nect year and the merchandise expected to be returned will have a cost of $1,200. (f) Supplies remaining at the end of the year, $600. (g) Unexpired insurance on December 31,$2,600. (h) Depreciation expense on the building for 20-, \$5,000. (i) Depreciation expense on the store equipment for 20,$3,000. (i) Wages eamed but not paid as of December 31,$1,800. (k) Neff also offers boat rentals which clients pay for in advance. Unearned boat rental revenue as of December 31 is $3,000. Required: 1. Prepare a year-eno spreadsheet 2. Joumalize the sojusting entries. 3. Compute cost of goods sold using the spreadsheet prepared for part (1). it ens rance fxomge Neff uses the periodic inventory system. Year-end adjustment data are as follows: (a, b) A physical count shows that merchandise inventory costing $51,800 is on hand as of December 31, 20- (c, d, e) Neff estimates that customers will be granted $2,000 in refunds of this year's sales nect year and the merchandise expected to be returned will have a cost of $1,200. (f) Supplies remaining at the end of the year, $600. (g) Unexpired insurance on December 31,$2,600. (h) Depreciation expense on the building for 20-, \$5,000. (i) Depreciation expense on the store equipment for 20,$3,000. (i) Wages eamed but not paid as of December 31,$1,800. (k) Neff also offers boat rentals which clients pay for in advance. Unearned boat rental revenue as of December 31 is $3,000. Required: 1. Prepare a year-eno spreadsheet 2. Joumalize the sojusting entries. 3. Compute cost of goods sold using the spreadsheet prepared for part (1). it ens rance fxomge