Please help for items in red.

Receipt 1397 Bentley Inc. 1028626 Street Vancouver, British Columbia C7I 6T5 Date: April 2, 2024 Receipt No.: 1397 Customer: XYZ Corporation 125575 Avenue Calgary, Alberta Rep: N/A U2J 8L5 Invoice No.: Verbal \begin{tabular}{|c|l|r|c|} \hline Qty & \multicolumn{1}{|c|}{ Description } & Unit Price & Total \\ \hline 1 & \begin{tabular}{l} Store equipment (see 'Note' below) \\ NOTE: All of the store equipment \\ owned by Bentley Inc. was sold to \\ XYZ Corporation \end{tabular} & $21,300 & $21,300 \\ \hline & Total: & $21,300 \\ & Paid: & $21,300 \\ & Balance Due: & $0 \\ \hline \end{tabular} Please write-off customer account belonging to Callaho Inc. as it has been determined to be uncollectible. Thanks, Adam Uppe \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline & General Journal & & & Page GJ1 & & & & & \\ \hline Date & Account/Explanation & F & Debit & Credit & & & & & \\ \hline 1/Apr & Rent expense, selling space & & 2,160 & & & General Journal & & & Page GJ2 \\ \hline & Rent expense, office space & & 3,240 & & Date & Account/Explanation & F & Debit & Credit \\ \hline & Cash & & & 5,400 & 20/Apr & Cash. & & 24,000 & \\ \hline & inter-office memo 12 & & & & & Common Shares & & & 24,000 \\ \hline 2/Apr & Cash & & 21,300 & & & inter-office memo 16 & & & \\ \hline & Store Equipment & & & 121,100 & 20/Apr & Accounts Payable, Benson Inc. & AP & 13,500 & \\ \hline & Gain on Sale of Property, Plant and Equipment Assets & PPE & 99,800 & & & Cash & & & 13,500 \\ \hline & reciept 1397 & & & & & inter-office memo 17 & & & \\ \hline 4/Apr & Accounts Payable, Ludwig Inc. & AP & 504,000 & & 20/Apr & Merchandise Inventory & MI & 359,100 & \\ \hline & Cash & & & 504,000 & & Accounts Payable, United Corporation & AP & & 359,100 \\ \hline & inter-office memo 13 & & & & & invoice 1101 & & & \\ \hline 5/Apr & Accounts Receivable, Holden Corp. & AR & 370,600 & & 21/Apr & Accounts Payable, Ludwig Inc. & AP & 715,500 & \\ \hline & Sales & & & 370,600 & & Cash & & & 715,500 \\ \hline & invoice 6354 & & & & & inter-office memo 18 & & & \\ \hline 6/Apr & Merchandise Inventory & MI & 556,500 & & 22/Apr & Cash Dividends Declared & & 10,000 & \\ \hline & Accounts Payable, ABC Inc. & AP & & 556,500 & & Cash & & & 10,000 \\ \hline & invoice 1463 & & & & & inter-office memo 19 & & & \\ \hline 11/Apr & Office Furniture & PPE & 13,500 & & 24/Apr & Cost Of Goods Sold & & 915,600 & \\ \hline & Accounts Payable, Benson Inc. & AP & & 13,500 & & Merchandise Inventory & MI & & 915,600 \\ \hline & invoice 1295 & & & & & invoice 6356 & & & \\ \hline 13/Apr & Cash & & 363,188 & & 24/Apr & Allowance for Doubtful Accounts & & 18,830 & \\ \hline & Sales Discounts & & 7,412 & & & Accounts Receivable, Callaho Inc. & AR & & 18,830 \\ \hline & Accounts Receivable, Holden Corp. & AR & & 370,600 & & inter-office memo 20 & & & \\ \hline & deposit slip april 13 & & & & 25/Apr & Cash & & 1,815,940 & \\ \hline 14/Apr & Accounts Payable, Benson Inc. & AP & 2,700 & & & Accounts Receivable, Holden Corp. & AR & & 1,815,940 \\ \hline & Office Furniture & PPE & & 2,700 & & deposit slip april 25 & & & \\ \hline & CM 173 & & & & 26/Apr & Utilities Expense & & 11,000 & \\ \hline 14/Apr & Accounts Payable, ABC Inc. & AP & 556,500 & & & Utilities Payable & & & 11,000 \\ \hline & Cash & & & 556,500 & & inter-office memo 21 & & & \\ \hline & inter-offic memo 14 & & & & 30/Apr & Sales Salaries Expense & & 37,000 & \\ \hline 15/Apr & Cash & & 1,604 & & & Office Salaries Expense & & 14,000 & \\ \hline & Interest Receivable & & & 802 & & Cash & & & 51,000 \\ \hline & Notes Receivable & & & 802 & & inter-office memo 22 & & & \\ \hline & deposit slip april 15 & & & & & & & & \\ \hline 15/Apr & Sales Salaries Expense & & 37,000 & & & & & & \\ \hline & Office Salaries Expense & & 14,000 & & & & & & \\ \hline & Cash & & & 51,000 & & & & & \\ \hline & inter-office memo 15 & & & & & & & & \\ \hline 16/Apr & Accounts Receivable, Holden Corp. & AR & 1,853,000 & & & & & & \\ \hline & Sales & & & 1,853,000 & & & & & \\ \hline & invoice 6355 & & & & & & & & \\ \hline 17/Apr & Merchandise Inventory & MI & 715,500 & & & & & & \\ \hline & \begin{tabular}{l} Accounts Payable, Ludwig Inc. \\ invoice 1965 \end{tabular} & AP & & 715,500 & & & & & \\ \hline \end{tabular} Part 1 [140 points] The following source documents are from April : For all parts of the Case Study, round all calculations to two decimal places unless otherwise specified. hese subledgers, leave the F column blank. The posting reference to be used in the subledgers will be the abbreviation for the general journal (GJ1 or GJ2 as appropriate). Merchandise Inventory Subledger (Acct. \#119) (Note: Recalculate the Balance in Inventory's AvgCost/Unit after each transaction.). *All cost/unit calculations should be rounded to two decimal places. Please write cheque \#2710 to Courtland Corp. in payment of the April rent, $5,400. Charge 40% of the rent to 'Rent expense, selling space' and the balance to 'Rent expense, office space'. Thanks, Adam Uppe Please prepare a cheque (\#2717) to pay for the March utilities accrued on March 31. Thanks, Adam Uppe Please write cheque #2714 to Benson Inc. to pay for the April 11 purchase regarding Invoice 1295 . Thanks, Adam Uppe Please prepare cheque #2716 to pay dividends of $1 per share to shareholders of record on today's date. Thanks, Adam Uppe Deposit slip (April 15) x Bentley Inc. 1028626 Street Vancouver, British Columbia C7I 6T5 Velor Inc. 8537 Paper Trail Winnipeg, Manitoba V4N 807 Date: April 15, 2024 Account No.: 177 Cash Cheques N/A (re: interest and principal regarding the note receivable) $1,604 Total Deposits $1,604 Invoice 6356 Bentley Inc. 1028626 Street Vancouver, British Columbia C7I 6T5 Customer: Oppong Corporation 12109 Falton Road Vancouver, British Columbia Y4Q 5Y8 Date: April 24, 2024 Invoice No.: 6356 Credit Terms: 2/10, n/30 Rep: N/A PO No.: Verbal \begin{tabular}{|r|l|r|c|} \hline Qty & \multicolumn{1}{|c|}{ Description } & \begin{tabular}{c} Unit \\ Price \end{tabular} & Total \\ \hline 4,200 & Merchandise Inventory & $218 & $915,600 \\ & & & \\ \hline & Sub- & $915,600 \\ & Total: & 0 \\ & Freight: & 0 \\ & Total: & $915,600 \\ \hline \end{tabular} Merchandise Inventory Subledger (Acct. \#119) (Note: Recalculate the Balance in Inventory's AvgCost/Unit after each transaction.). \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Date } & \multirow[b]{2}{*}{ PR } & \multicolumn{3}{|c|}{\begin{tabular}{l} Purchases/Transportation-In/ \\ (Purchase Returns/Discounts) \end{tabular}} & \multicolumn{3}{|c|}{\begin{tabular}{l} Cost of Goods Sold/ \\ (Returns to Inventory) \end{tabular}} & \multicolumn{3}{|c|}{ Balance in Inventory } \\ \hline & & Units & Cost/Unit* & Total \$ & Units & Cost/Unit* & Total \$ & Units & AvgCost/Unit* & Total \$ \\ \hline March 31 & BFWD & 19,000 & 80 & 1,520,000 & & & & 19,000 & 80 & 1,520,000 \\ \hline April 5 & & & & & 1,700 & 80 & 136,000 & 17,300 & 80 & 1,384,000 \\ \hline April 6 & & 2,553 & 80 & 204,240 & & & & 19,853 & 80 & 1,588,240 \\ \hline April 16 & & & & & 8,500 & 80 & 680,000 & 11,353 & 80 & 908,240 \\ \hline April 17 & 3283 & 3,283 & 79.50 & 260,999 & & & & 14,636 & 79.83 & 1,168,392 \\ \hline April 20 & & & 80.10 & & & & & & 79.89 & \\ \hline April 21 & & & & & & & & & 79.46 & \\ \hline April 24 & & & & & & 79.46 & & & 79.46 & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{14}{|c|}{\begin{tabular}{c} Bentley Inc. \\ Accounts Receivable Subledger \end{tabular}} \\ \hline \multicolumn{8}{|c|}{ Acct. \#10603; Holden Corp. } & \multicolumn{6}{|c|}{ Acct. \#10610; Oppong Corporation } \\ \hline Date & Desc. & F & & ebit & & Credit & Balance & Date & Desc. & F & Debit & Credit & Balance \\ \hline 16/Apr I & INVOICE 6355 & B/C & & & & 853,940 & 1,853,940 & & & & & & \\ \hline 25/Apr D & DEPOSIT SLIP & REC & C 1,81 & 5,940 & & & & & & & & & \\ \hline 5/Apr I & INVOICE 6354 & B/O & & & & 370,600 & 370,600 & & & & & & \\ \hline 13/Apr L & DEPOSIT SLIP & REC & & 0,600 & & & 0 & & & & & & \\ \hline \multicolumn{14}{|c|}{ Acct. \#10611; Callaho Inc. } \\ \hline Date & Desc. & & F & Det & & Credit & Balance & & & & & & \\ \hline 1/Apr & \begin{tabular}{l} r \\ Terms 2/10,n \end{tabular} & 1/30 & BFWD & 188 & 300 & & 188,300 & & & & & & \\ \hline \end{tabular} Deposit slip (April 25) Bentley Inc. 1028626 Street Vancouver, British Columbia C7I 6T5 Holden Corp. 1180047 Street Toronto, Ontario A7X 6T6 Date: April 25, 2024 Account No.: 178 Cash Account payment. RE: Invoice 6355 $1,815,940 Cheques Total Deposits $1,815,940 lary15,20 uary 15,20 in 15,2029 Calculated to the nearest whole month for partial periods. For Double-Declining-Balance, depreciation is calculated for the fiscal year and then divided by the number of months e asset was used in that fiscal year to get the depreciation per month. Round final values to the nearest whole dollar. What is the next step in the accounting cycle? Prepare financial statements This is the last step Post adjusting entries Prepare an adjusted trial balance Prepare an unadjusted trial balance Prepare bank reconciliation and adjusting entries Prepare closing entries Prepare a post-closing trial balance Post transactions Receipt 1397 Bentley Inc. 1028626 Street Vancouver, British Columbia C7I 6T5 Date: April 2, 2024 Receipt No.: 1397 Customer: XYZ Corporation 125575 Avenue Calgary, Alberta Rep: N/A U2J 8L5 Invoice No.: Verbal \begin{tabular}{|c|l|r|c|} \hline Qty & \multicolumn{1}{|c|}{ Description } & Unit Price & Total \\ \hline 1 & \begin{tabular}{l} Store equipment (see 'Note' below) \\ NOTE: All of the store equipment \\ owned by Bentley Inc. was sold to \\ XYZ Corporation \end{tabular} & $21,300 & $21,300 \\ \hline & Total: & $21,300 \\ & Paid: & $21,300 \\ & Balance Due: & $0 \\ \hline \end{tabular} Please write-off customer account belonging to Callaho Inc. as it has been determined to be uncollectible. Thanks, Adam Uppe \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|} \hline & General Journal & & & Page GJ1 & & & & & \\ \hline Date & Account/Explanation & F & Debit & Credit & & & & & \\ \hline 1/Apr & Rent expense, selling space & & 2,160 & & & General Journal & & & Page GJ2 \\ \hline & Rent expense, office space & & 3,240 & & Date & Account/Explanation & F & Debit & Credit \\ \hline & Cash & & & 5,400 & 20/Apr & Cash. & & 24,000 & \\ \hline & inter-office memo 12 & & & & & Common Shares & & & 24,000 \\ \hline 2/Apr & Cash & & 21,300 & & & inter-office memo 16 & & & \\ \hline & Store Equipment & & & 121,100 & 20/Apr & Accounts Payable, Benson Inc. & AP & 13,500 & \\ \hline & Gain on Sale of Property, Plant and Equipment Assets & PPE & 99,800 & & & Cash & & & 13,500 \\ \hline & reciept 1397 & & & & & inter-office memo 17 & & & \\ \hline 4/Apr & Accounts Payable, Ludwig Inc. & AP & 504,000 & & 20/Apr & Merchandise Inventory & MI & 359,100 & \\ \hline & Cash & & & 504,000 & & Accounts Payable, United Corporation & AP & & 359,100 \\ \hline & inter-office memo 13 & & & & & invoice 1101 & & & \\ \hline 5/Apr & Accounts Receivable, Holden Corp. & AR & 370,600 & & 21/Apr & Accounts Payable, Ludwig Inc. & AP & 715,500 & \\ \hline & Sales & & & 370,600 & & Cash & & & 715,500 \\ \hline & invoice 6354 & & & & & inter-office memo 18 & & & \\ \hline 6/Apr & Merchandise Inventory & MI & 556,500 & & 22/Apr & Cash Dividends Declared & & 10,000 & \\ \hline & Accounts Payable, ABC Inc. & AP & & 556,500 & & Cash & & & 10,000 \\ \hline & invoice 1463 & & & & & inter-office memo 19 & & & \\ \hline 11/Apr & Office Furniture & PPE & 13,500 & & 24/Apr & Cost Of Goods Sold & & 915,600 & \\ \hline & Accounts Payable, Benson Inc. & AP & & 13,500 & & Merchandise Inventory & MI & & 915,600 \\ \hline & invoice 1295 & & & & & invoice 6356 & & & \\ \hline 13/Apr & Cash & & 363,188 & & 24/Apr & Allowance for Doubtful Accounts & & 18,830 & \\ \hline & Sales Discounts & & 7,412 & & & Accounts Receivable, Callaho Inc. & AR & & 18,830 \\ \hline & Accounts Receivable, Holden Corp. & AR & & 370,600 & & inter-office memo 20 & & & \\ \hline & deposit slip april 13 & & & & 25/Apr & Cash & & 1,815,940 & \\ \hline 14/Apr & Accounts Payable, Benson Inc. & AP & 2,700 & & & Accounts Receivable, Holden Corp. & AR & & 1,815,940 \\ \hline & Office Furniture & PPE & & 2,700 & & deposit slip april 25 & & & \\ \hline & CM 173 & & & & 26/Apr & Utilities Expense & & 11,000 & \\ \hline 14/Apr & Accounts Payable, ABC Inc. & AP & 556,500 & & & Utilities Payable & & & 11,000 \\ \hline & Cash & & & 556,500 & & inter-office memo 21 & & & \\ \hline & inter-offic memo 14 & & & & 30/Apr & Sales Salaries Expense & & 37,000 & \\ \hline 15/Apr & Cash & & 1,604 & & & Office Salaries Expense & & 14,000 & \\ \hline & Interest Receivable & & & 802 & & Cash & & & 51,000 \\ \hline & Notes Receivable & & & 802 & & inter-office memo 22 & & & \\ \hline & deposit slip april 15 & & & & & & & & \\ \hline 15/Apr & Sales Salaries Expense & & 37,000 & & & & & & \\ \hline & Office Salaries Expense & & 14,000 & & & & & & \\ \hline & Cash & & & 51,000 & & & & & \\ \hline & inter-office memo 15 & & & & & & & & \\ \hline 16/Apr & Accounts Receivable, Holden Corp. & AR & 1,853,000 & & & & & & \\ \hline & Sales & & & 1,853,000 & & & & & \\ \hline & invoice 6355 & & & & & & & & \\ \hline 17/Apr & Merchandise Inventory & MI & 715,500 & & & & & & \\ \hline & \begin{tabular}{l} Accounts Payable, Ludwig Inc. \\ invoice 1965 \end{tabular} & AP & & 715,500 & & & & & \\ \hline \end{tabular} Part 1 [140 points] The following source documents are from April : For all parts of the Case Study, round all calculations to two decimal places unless otherwise specified. hese subledgers, leave the F column blank. The posting reference to be used in the subledgers will be the abbreviation for the general journal (GJ1 or GJ2 as appropriate). Merchandise Inventory Subledger (Acct. \#119) (Note: Recalculate the Balance in Inventory's AvgCost/Unit after each transaction.). *All cost/unit calculations should be rounded to two decimal places. Please write cheque \#2710 to Courtland Corp. in payment of the April rent, $5,400. Charge 40% of the rent to 'Rent expense, selling space' and the balance to 'Rent expense, office space'. Thanks, Adam Uppe Please prepare a cheque (\#2717) to pay for the March utilities accrued on March 31. Thanks, Adam Uppe Please write cheque #2714 to Benson Inc. to pay for the April 11 purchase regarding Invoice 1295 . Thanks, Adam Uppe Please prepare cheque #2716 to pay dividends of $1 per share to shareholders of record on today's date. Thanks, Adam Uppe Deposit slip (April 15) x Bentley Inc. 1028626 Street Vancouver, British Columbia C7I 6T5 Velor Inc. 8537 Paper Trail Winnipeg, Manitoba V4N 807 Date: April 15, 2024 Account No.: 177 Cash Cheques N/A (re: interest and principal regarding the note receivable) $1,604 Total Deposits $1,604 Invoice 6356 Bentley Inc. 1028626 Street Vancouver, British Columbia C7I 6T5 Customer: Oppong Corporation 12109 Falton Road Vancouver, British Columbia Y4Q 5Y8 Date: April 24, 2024 Invoice No.: 6356 Credit Terms: 2/10, n/30 Rep: N/A PO No.: Verbal \begin{tabular}{|r|l|r|c|} \hline Qty & \multicolumn{1}{|c|}{ Description } & \begin{tabular}{c} Unit \\ Price \end{tabular} & Total \\ \hline 4,200 & Merchandise Inventory & $218 & $915,600 \\ & & & \\ \hline & Sub- & $915,600 \\ & Total: & 0 \\ & Freight: & 0 \\ & Total: & $915,600 \\ \hline \end{tabular} Merchandise Inventory Subledger (Acct. \#119) (Note: Recalculate the Balance in Inventory's AvgCost/Unit after each transaction.). \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|} \hline \multirow[b]{2}{*}{ Date } & \multirow[b]{2}{*}{ PR } & \multicolumn{3}{|c|}{\begin{tabular}{l} Purchases/Transportation-In/ \\ (Purchase Returns/Discounts) \end{tabular}} & \multicolumn{3}{|c|}{\begin{tabular}{l} Cost of Goods Sold/ \\ (Returns to Inventory) \end{tabular}} & \multicolumn{3}{|c|}{ Balance in Inventory } \\ \hline & & Units & Cost/Unit* & Total \$ & Units & Cost/Unit* & Total \$ & Units & AvgCost/Unit* & Total \$ \\ \hline March 31 & BFWD & 19,000 & 80 & 1,520,000 & & & & 19,000 & 80 & 1,520,000 \\ \hline April 5 & & & & & 1,700 & 80 & 136,000 & 17,300 & 80 & 1,384,000 \\ \hline April 6 & & 2,553 & 80 & 204,240 & & & & 19,853 & 80 & 1,588,240 \\ \hline April 16 & & & & & 8,500 & 80 & 680,000 & 11,353 & 80 & 908,240 \\ \hline April 17 & 3283 & 3,283 & 79.50 & 260,999 & & & & 14,636 & 79.83 & 1,168,392 \\ \hline April 20 & & & 80.10 & & & & & & 79.89 & \\ \hline April 21 & & & & & & & & & 79.46 & \\ \hline April 24 & & & & & & 79.46 & & & 79.46 & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|c|c|} \hline \multicolumn{14}{|c|}{\begin{tabular}{c} Bentley Inc. \\ Accounts Receivable Subledger \end{tabular}} \\ \hline \multicolumn{8}{|c|}{ Acct. \#10603; Holden Corp. } & \multicolumn{6}{|c|}{ Acct. \#10610; Oppong Corporation } \\ \hline Date & Desc. & F & & ebit & & Credit & Balance & Date & Desc. & F & Debit & Credit & Balance \\ \hline 16/Apr I & INVOICE 6355 & B/C & & & & 853,940 & 1,853,940 & & & & & & \\ \hline 25/Apr D & DEPOSIT SLIP & REC & C 1,81 & 5,940 & & & & & & & & & \\ \hline 5/Apr I & INVOICE 6354 & B/O & & & & 370,600 & 370,600 & & & & & & \\ \hline 13/Apr L & DEPOSIT SLIP & REC & & 0,600 & & & 0 & & & & & & \\ \hline \multicolumn{14}{|c|}{ Acct. \#10611; Callaho Inc. } \\ \hline Date & Desc. & & F & Det & & Credit & Balance & & & & & & \\ \hline 1/Apr & \begin{tabular}{l} r \\ Terms 2/10,n \end{tabular} & 1/30 & BFWD & 188 & 300 & & 188,300 & & & & & & \\ \hline \end{tabular} Deposit slip (April 25) Bentley Inc. 1028626 Street Vancouver, British Columbia C7I 6T5 Holden Corp. 1180047 Street Toronto, Ontario A7X 6T6 Date: April 25, 2024 Account No.: 178 Cash Account payment. RE: Invoice 6355 $1,815,940 Cheques Total Deposits $1,815,940 lary15,20 uary 15,20 in 15,2029 Calculated to the nearest whole month for partial periods. For Double-Declining-Balance, depreciation is calculated for the fiscal year and then divided by the number of months e asset was used in that fiscal year to get the depreciation per month. Round final values to the nearest whole dollar. What is the next step in the accounting cycle? Prepare financial statements This is the last step Post adjusting entries Prepare an adjusted trial balance Prepare an unadjusted trial balance Prepare bank reconciliation and adjusting entries Prepare closing entries Prepare a post-closing trial balance Post transactions