On November 30, 2019, Davis Company had the following account balances Debit Credit Cash $3,090 + Accounts Receivable 9.900 $100 17.750 1,400 9,000 42.000 4.200 10,700 Allowance for Doubtful Accounts Inventory Supplies Land Buildings and Equipment Accumulated Depreciation Accounts Payable Common Stock, no par (2.000 shares) Retained Eamings (1/1/2019) Dividends Sales Revenue Cost of Goods Sold Salaries Expense Advertising Expense Other Expenses 20 000 42.400 2.000 69.700 36.860 12 500 8.100 4.500 During the month of December, Davis entered into the following transactions: Date Dec. 4 7 14 18 20 Transaction Made cash sales of $3,000; the cost of the inventory sold was 51,800. Purchased $2,400 of inventory on credit. Collected 5900 of accounts receivable Sold land for $7,800; the land originally cost $5,000 Made credit sales of $4,000, the cost of the inventory sold was $2.400 Returned S360 of defective inventory to supplier for credit to the Davis Company's account Purchased $1,250 of inventory for cash Paid S1,100 of accounts payable Purchased land at a cost of $6,000; made a $1,000 down payment and signed a 12%, 2-year note for the balance 21 27 28 31 Required: 1. Prepare general Journal entries to record the preceding transactions 2 Post to general ledger T-accounts: 3. Prepare a year-end trial balance on a worksheet and complete the worksheet using the following information a accrued salaries at year-end total $1.200 b for simplicity, the building and equipment are being depreciated using the straight-line method over an estimated life of 20 years with no residual value supplies on hand at the end of the year total 5630 d bad debts expense for the vear totals $830 Check My Work 1 more Check My Work uses remaining 2. Post to general ledger T-accounts. T-accounts Instructions Cash 12/01 Bal 12/31 Bal Accounts Receivable 12/01 Bal 12/31 Bal Inventory 12 01 Bal 3. Prepare a year-end trial balance on a worksheet and complete the worksheet using the following information a aconued salaries at year-end total 51,200 b. for simplicity, the building and equipment are being depreciated using the straight-ine method over an estimated te of 20 years with no residual value a supplies on hand at the end of the year total 5630 d bad debts expense for the year totale 5830 e the income tax rate is 30% income taxes are payable in the first quarter of 2020 Venhet Instructions DAVIS COMPANY Worksheet For the Year Ended December 31, 2010 Tu Banos That Balance Austment Credit Condt be Articles 11 44000 Cash 1300000 + Accounts receivable Allow for outtful accounts 100.00 1000 134500 4a. Prepare the company's income statement for 2019. Income Statement Instructions Question not attempted. Score: 0/133 DAVIS COMPANY Income Statement For the Year Ended December 31, 2019 . 2 : Label) 5 5 46. Prepare the statement of retained eamings for 2019 Retained Eamings Instructions Question not attempted. DAVIS COMPANY Score: 0/39 Statement of Retained Earnings For the Year Ended December 31, 2019 . 2 3 : Points 0/0