Need Journal Entries checked for correctness, and completion of the missing journals

Jelly World, Inc. Balance Sheet December 31, 2018 Assets Current Assets Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Inventory Prepaid Insurance Total Current Assets 346,890 31,878 (405) 1,118,695 970 754 1,498,782 Property, Plant, and Equipment Land Furniture and Equipment Accumulated Depreciation--Furniture and Equipment Buildings Accumulated Depreciation--Buildings Net Property, Plant, and Equipment 125,000 18,000 (12,000) 525,000 (52,500) 603,500 Total Assets 2,102,282 $ Liabilities and Stockholders' Equity Current Liabilities Accounts Payable Interest Payable Taxes Payable Total Current Liabilities 303,565 26,000 46,945 376,510 Long-term Liabilities Mortgage Note Payable Note Payable Total Long-term Liabilities 280,000 240,000 520,000 Total Liabilities 896,510 Stockholders' Equity Common Stock, 10,500 shares issued and outstanding, $10 pa Retained Earnings Total Stockholders' Equity 105,000 1,100,772 1,205,772 Total Liabilities and Stockholders' Equity $ 2,102,282 proper use or Excel spreadsneerinks and formulas) 303,565 303,565 There is no Check Figure for Part A. 31,878 31,878 26,000 26,000 10,500 10,500 3,540 1 Accounts Payable Cash 2 Cash Accounts Receivable 3 Interest Payable Cash 4 Mortgage Note Cash 5 PrePaid Insurance Cash 6 Tax Expense Cash 7 Bank Loan Payable Cash 8 Furniture and Equipment Cash 9 Cash Common Stock 10 Inventory Transaction and Adjustment Data: 1 Paid the $303,565 owed on account at year end 2018. 2 Collected the $31,878 of accounts receivable due to them at year end 2018. 3 Paid the interest of $26,000 that was payable at year end 2018. 4 Made a payment on the mortgage note of $10,500. 5 Paid $3,540 to renew their annual insurance policy on March 1, 2019. 6 Paid the taxes owed of $46,945 at year end 2018. 7 Made a payment on the long-term note of $81,600. 8 Purchased additional Furniture & Equipment on May 1, 2019 costing $64,440 due to increased shipping activities for their growing online presence. 9 Issued 1,900 shares of Common Stock on May 1, 2019 for $10 per share. 10 Purchased inventory during the year that cost $1,772,598. The company owed $386,430 on these purchases at year end 2019. 3,540 46,945 46,945 81,600 81,600 64,440 64,440 19,000 19,000 1,772,598 1,386,168 386,430 81,800 Purchased a new computerized sales system on June 1, 2019 for $81,800 in cash. The system has a useful economic life of 3 years and will be depreciated monthly using the straight line method. The system has a salvage value of $8,000. 12 Sales of artisan jellies for 2019 were $2,546,320. At December 31, 2019, $52,187 of this amount was still listed as receivable. 13 The total cost of the goods sold during 2019 was $1,698,576. 14 Supplies inventory of $4,792 was purchased with cash during 2019. Total supplies inventory of $762 was still on hand at year end 2019. 15 $22,387. Salaries of $7,508 and interest of $22,387 are still payable at year end 2019. 81,800 2,494,133 52,187 2,546,320 1,698,576 16 1,698,576 4,792 Depreciation expense needs to be recorded on ALL buildings, furniture and equipment, and the new computer system at year end 2019. All items are depreciated on a monthly basis using straight line depreciation. The building has a useful life of 40 years and the furniture and equipment is depreciated over 6 years--there is no salvage value on the buildings or the furniture and equipment. As noted above, the new sales system has a useful life of 3 years and has a salvage value of $8,000. 792 4,000 Cash Accounts Payable 11 Computerized Equip Cash 12 Cash Accounts Receivable Sales Revenue 13 Cost of Goods Sold Inventory 14 Supplies Expense Supplies Inventory Cash 15 Salaries Expense Interest Expense Salaries Payable Interest Payable Cash 16 Depreciation Expense Equipment 17 PrePaid Insurance Cahs 18 Tax Payable Cash 19 Dividends Cash 20 Write Off Accounts Receivabl 135,422 22,387 7,508 22,387 127,914 The Prepaid Insurance and the Supplies Inventory need to be adjusted at year end 2019 so that the proper amount for insurance expense and supplies expense is recorded. See items 5 and 14 for details. (If you adjusted the supplies in #14, do not do it again) 18 Estimated income tax payable amounts for 2019 equaling $86,500 were paid during the year as they became due. 19 The company paid out cash dividends totaling $3,250 to its shareholders. 20 The company determined that a customer account was not collectible, and wrote off $387 on December 31. 86,500 86,500 3,250 3,250 387 The company believes that 2.5% of ending Accounts Receivable is a reasonable estimate of its Allowance for Doubtful Accounts balance. The Company uses the allowance method to record bad debts. 22 Tax expense is 21% of Income before Income Tax. 387 22 Income Tax Expense Background Information: The Balance Sheet for December 31, 2018 is presented