Please help me solve this problem: Special journals-perpetual
Problem 4-4A Closing entries LO2, 3, 4 MY Autobody's adjusted trial balance on December 31, 2020, appears in the work sheet as follows: No. Account Debit Credit 101 Cash $ 28,900 124 Shop supplies 2, 250 128 Prepaid insurance 5, 100 167 Equipment 92,500 168 Accumulated depreciation, equipment $ 8, 400 201 Accounts payable 19,900 210 Wages payable 9, 760 301 Mike Yang, capital 149,000 302 Mike Yang, withdrawals 40,500 401 Repair revenue 165, 730 612 Depreciation expense, equipment 9, 400 623 Wages expense 105, 400 637 Insurance expense 2,350 640 Rent expense 56, 850 650 Office supplies expense 5, 700 690 Utilities expense 3, 840 Totals $352, 790 $352 , 790Required 1. Prepare closing entries. View transaction list Journal entry worksheet 2 3 4 Record closing of revenue to the income summary. Note: Enter debits before credits. Date Account Title Debit Credit Dec. 31, 2020 Record entry Clear entry View general journal\fProblem All-2A Special journals-perpetual LO4 Janish Supplies completed the transactions listed below during April 2020. All sales are on terms 2/10, n/30. April 2 Sold merchandise to Tim Bennett for $35,000 on credit; invoice #306 (cost $22, 750). 3 Cash sales for the day totalled $15,000; invoices #307 to #310 (cost $9, 750). 4 Purchased $48,000 of merchandise from Wallace Brothers; terms 1/10, n/30. 5 Sold merchandise to Brian Kennedy for $42,000 on credit; invoice #311 (cost $27,300). 6 Returned $4,200 of defective merchandise purchased on April 4. 9 Purchased $230 of office supplies; cheque #620. 11 Purchased $56,000 of merchandise from Mckinley & Sons; terms n/30. 12 Received payment from Tim Bennett regarding the sale of April 2. 13 Paid for the merchandise purchased on April 4; cheque #621. 16 Sold merchandise to Wynne Walsh for $14,000 on credit; invoice #312 (cost $9,100). 19 Issued a credit memo regarding a $3,000 allowance granted to Wynne Walsh to cover defective merchandise sold on April 16. 20 Received payment from Brian Kennedy for the sale of April 5. 23 Purchased $3,800 of equipment from Zardon Company; terms 1/15, n/30. 24 Sold merchandise to Brian Kennedy for $18,000 on credit; invoice #313 (cost $11, 700). 26 Paid for the purchase of April 11; cheque #622. 27 Received payment from Wynne Walsh regarding the sale of April 16. 30 Paid April salaries; $36,000; cheque #623. For simplicity, we assume one cheque.Required: 1-2. Journalize the April transactions into the appropriate journal assuming perpetual inventory system. (Enter the transactions in the order provided in the question.) JANISH SUPPLIES SALES JOURNAL COGS Dr. Date Account Debited Invoice No. A/R Dr. Sales Cr. Merchandise Inventory Cr. Totals\fJANISH SUPPLIES CASH DISBURSEMENTS JOURNAL Merchandise Other Date Ch. No. Account Debited Cash Cr. A/P Dr. Inventory Cr. Accounts Dr. TotalsJournal entry worksheet 2 Record the return of defective merchandise. Note: Enter debits before credits. Date General Journal Debit Credit April 06, 2020 Record entry Clear entry View general journalJournal entry worksheet 2 Record the allowance granted regarding defective merchandise. Note: Enter debits before credits. Date General Journal Debit Credit April 19, 2020 Record entry Clear entry View general journal
