Part 1. Write the Journal Entries On the forms provided on the excel student input file, journalize the following transactions for the month of June for Baxter Company using the following list of Accounts. Record all entries to the nearest cent. Instructions on Journal entries: 1. Skip a line between each transaction. 2. Indent the credit entry 3. Record all transactions to the nearest cent. Financial Accounting Project 1 Chapters 1-5 (Problem and Data) 100 points 1-Jun Sold $125 of merchandise to a customer who used a VISA. Cost of goods sold was $50 4 pts 3-Jun Purchased merchandise on account from ABC Company for $12500 Terms 2/10,n/30, FOB shipping point Billed $187.5 for shipping which was added to the involce 4-Jun Returned $2500 of the merchancise purchased on June 3 from ABC Company 3 pts. 6-Jun Sold $18750 on account to EFG Company, terms n/30. FOB shipping point The cost of goods sold was $6250 and we paid $312.5 for shipping which was billed and added to the customer's invoice 2 pts. 7-Jun EFG company retumed $1875 of the merchandise purchased on June 6 The cost of merchandise sold wes $1250 8-Jun Paid misc. administrative expense of $625 9-Jun Purchased on account $437.5 of store supplies 10-Jun Received cash in advance from tenant for 6 months rent of warehouse space, $7500 13-Jun Paid ABC Company for the purchase made on June 3rd, less the return of June 4 th 16-wun Purchased store supplies for $125 cash 4 pts. 7pts 2pts 2 pts. 2pts 17-Jun Received cash from EFG Company for the sale of June 6, less the return of June 7th 4pts. 2 pts. 3 pts. 25-Jun Paid sales salaries expense of $812.5 2 pts. Financial Accounting Project 1 Chapters 1-5 (Problem and Data) 100 points Part 2 Complete the Worksheet Use the following data for adjustments, complete the rest of worksheet (columns 3-10). (Hint it might help to joumalize the adjustments first.) Be sure to complete the entire worksheet showing totals and net income. 22 points Check Answer: Adjusted Trial Balance = 97,750.00 Adjustments: 1. Sales earned but not billed yet $2500 2. Additional $312.5 in sales salaries has been accrued, but not yet recorded 3. Depreciation expense on the store equipment for the month is $187.5 4. Insurance explied for the month is $75 5. Store Supplies on hand at end of the month is $62.5 6. $1250 of the uneamed rent has now been earned 7. Physical count of merchandise inventory on June 30 is $19500 Part 3 - Complete the Financial Statements 1) The Multistep Income Statement 2) Statement of Stockholders' Equity 17 points 3) Balance Sheet (showing current and long term) 7 points 17 points Check Answers Cash Account Balance = 15,000.00 Total Assots = 72,150.00