making journal entries and a trial balance

During February, J.Lo Co entered into the following transactions:

2/1Paid rent for February, $5,000

2/3 Purchased merchandise from Jenny from the Block, LLC, terms 2/10, n/30, FOB shipping point. $36,000 for 9,000 units.

2/4 Paid freight on purchase of 2/3, $600

2/6 Sold merchandise on account to Im Real, Inc., terms 2/10, n/30, FOB shipping point. 20,000 units sold for $230,000.

2/10 Sold 25,000 units for $250,000 cash.

2/13Paid for merchandise purchased on 2/3.

2/15 Paid advertising expense for the next two weeks, $11,000.

2/16 Received cash from sale on 2/6.

2/19 Purchased 5,000 units of merchandise for $30,000 cash

2/20 Paid Im Real, Inc. a $5,000 cash refund for damaged merchandise from the 2/6 sale. Im Real, Inc. kept the merchandise.

2/20 Sold merchandise on account to Ja Rule, Inc., terms 1/10, n/30, FOB shipping point, $120,000 for 10,000 units.

2/21 For the convenience of Ja Rule, Inc., paid freight on the 2/20 sale, $2,300.

2/21 Purchased merchandise on account from Dodgers, Inc., terms 1/10, n/30, FOB destination, $86,250 for 15,000 units.

2/24 returned damaged merchandise (880 units) purchased on 2/21 from Dodgers, Inc., receiving a credit memo from the seller for $5,060

2/25 Paid salaries of $56,000

2/27 Received cash from sale on 2/20 plus freight paid on 2/21

2/28 Paid for purchase from Dodgers, Inc., less return on 2/24

1.Prepare an inventory schedule (see template) to compute both

a.Cost of Merchandise Sold in February and

b.Ending inventory as of 2/28

2. Prepare journal entries for the month.

3.Prepare an unadjusted trial balance for February.(HINT: To do this step, you will need to prepare T-accounts using the beginning balances and the journal entries)

4.Based on the following data, prepare a bank reconciliation for February:

a.Balance per bank: $491,242

b.Checks outstanding: $68,000

c.Deposits in transit: $30,000

d.Bank debit memo for service charges: $800

e.The check written for rent on 2/1 was actually for $5,500. (The $5,000 amount was in error).

f.Prepare any needed adjusting entries related to the bank reconciliation.