Please help. I tried the first journal entry and cannot do this problem
On January 1, 2021, the general ledger of Tripley Company included the following account balances: Credit Debit $178,000 58,000 $ 24,800 31,800 161,800 Accounts Cash Accounts receivable Allowance for uncollectible accounts Inventory Building Accumulated depreciation Land Accounts payable Notes payable (8%, due in 3 years) Common stock Retained earnings Totals 28,000 236,000 110,000 144,000 118,000 240, 800 $665,600 $665,600 The $31,800 beginning balance of inventory consists of 318 units, each costing $100. During January 2021, the company had the following transactions: January 2 Lent $38,000 to an employee by accepting a 6% note due in six months. 5 Purchased 4,400 units of inventory on account for $484,000 ($110 each) with terms 1/10, n/30. 8 Returned 100 defective units of inventory purchased on January 5. 15 Sold 4,200 units of inventory on account for $621,600 ($148 each) with terms 2/10, n/30. 17 Customers returned 200 units sold on January 15. These units were initially purchased by the company on January 5. The units are placed in inventory to be sold in the future. 20 Received cash from customers on accounts receivable. This amount includes $37,800 from 2020 plus amount receivable on sale of 3,600 units sold on January 15. 21 Wrote off remaining accounts receivable from 2020. 24 Paid on accounts payable. The amount includes the amount owed at the beginning of the period plus the amount owed from purchase of 4,000 units on January 5. 28 Paid cash for salaries during January, $46,000. 29 Paid cash for utilities during January, $28,000. 30 Paid dividends, $4,800. Month-end adjusting entries: a. Of the remaining accounts receivable, the company estimates that 10% will not be collected. b. Accrued interest revenue on notes receivable for January c. Accrued interest expense on notes payable for January. d. Accrued income taxes at the end of January for $6,800. e. Depreciation on the building, $3,800. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis 1. Record each of the transactions listed above in the 'General Journal' tab (these are shown as items 1-13) assuming a perpetual FIFO inventory system. Purchases and sales of inventory are recorded using the gross method for cash discounts. Review the 'General Ledger' and the 'Trial Balance' tabs to see the effect of the transa to see the effect of the transactions on the account balances. 2. Record adjusting entries on January 31 in the 'General Journal' tab (these are show 3. Review the adjusted 'Trial Balance' as of January 31, 2021, in the 'Trial Balance' tab. 4. Prepare a multiple-step income statement for the period ended January 31, 2021, in the 'Income Statement' tab. 5. Prepare a classified balance sheet as of January 31, 2021, in the 'Balance Sheet' tab. 6. Record closing entries in the 'General Journal' tab (these are shown as items 19-20). 7. Using the information from the requirements above, complete the 'Analysis' tab. ( Requirement General Journal > Income Requirement General Journal General Ledger Trial Balance Statement Balance Sheet Analysis Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Lent $38,000 to an employee by accepting a 6% note due in six months. Note: Enter debits before credits. Credit Date Jan 02 General Journal Notes receivable Debit 38,000 YE Cash 38,000 Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Analysis Each journal entry is posted automatically to the general ledger. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Unadjusted Dates: Jan 02 to: Jan 30 General Ledger Account Cash Debit Accounts receivable Debit Credit No. Credit No. Date Jan 02 Jan 02 Balance 178,000 140,000 Date Jan 02 Balance 58,000 1 38,000 Allowance for uncollectible accounts Notes receivable Debit Credit No. Debit Credit No. Balance Date Jan 02 Balance 24,800 Date Jan 02 Jan 02 1 38,000 38,000 Inventory Land No. Date Debit Credit No. / Debit Credit Balance 31,800 Date Jan 02 Balance 236,000 Buildings Debit Accumulated depreciation Debit Credit No. Datel Credit Balance No. Date Balance 161,800 28,000 Accounts payable Debit Credit Notes payable Debit Credit No. No. Date Date Jan 02 Balance 110,000 Balance 144,000 Common stock Debit Credit Retained earnings Debit Credit No. No. Date Jan 02 Balance 118,000 Date Jan 02 Balance 240,800 Requirement Journal Ledger Trial Balance Statement Balance Sheet Analysis Notice the dropdown below that gives the options to select the unadjusted, adjusted or post-closing trial balance. The option you choose will be the values used to populate the income statement and balance sheet tabs. Unadjusted - Dates: Jan 02 to: Jan 30 Tripley Company Trial Balance January 30, 2021 Account Title Credit Cash Debit 140,000 58,000 24,800 38,000 31,800 236,000 161,800 * Accounts receivable * Allowance for uncollectible accounts * Notes receivable Inventory * Land * Buildings * Accumulated depreciation * Accounts payable *Notes payable *Common stock *Retained earnings Total 28,000 110,000 144,000 118,000 240,800 665,600 665,600 $ (General Ledger Income Statement >
