JOURNALIZE THE FOLLOWING TRANSACTIONS 1. Invested $100,000 into JHU Shoe Store 2. Purchased $10,000 in supplies on account 3. Purchased 1,000 shoes at $10 each 4. Purchased 3,000 shoes at $20 each 5. Purchased 5,000 shoes at $30 each 6. Purchased $100,000 in equipment with a 4-year life, paying $20,000 in cash and placed the remaining balance on a note. Equipment salvage is estimated to be $10,000 7. Cash sales of 3,000 shoes at $100 each 8. Sales on account, 5,000 pairs of shoes at $100.00 each 9. Journalize adjusting entry for equipment depreciation, straight-line method 10. Ending supplies $1,000; make adjusting entry 11. Paid $10,000 in dividends 12. Collections on sales on account $150,000 13. Payment on account payable $200,000 14. Payment on note payable, $10,000 interest and $10,000 principal 15. Paid salary expense $100,000 *THE STORE UTILIZES FIFO INVENTORY METHOD* REOUIRED: 1. PREPARE INVENTORY CHART 2. PREPARE JOURNAL ENIRIES AND POST ALL ENTRIES TO LEDGER 3. PREPARE TRIAL BALANCE 4. PREPARE INCOME STATEMENT 5. PREPARE STATEMENT OF RETAINED EARNINGS 6. PREPARE BALANCE SHEET 7. PREPARE CLOSING ENTRIES AND POST 8. PREPARE CASH FLOW STATEMENT